What a Title Company & Closing Agent Does
A title company examines property ownership records, issues title insurance policies (both owner's and lender's), holds earnest money in escrow, prepares the closing statement, coordinates the closing, and records the deed and mortgage after funding. For commercial deals, title review is far more intensive than residential — examining easements, restrictions, liens, and encumbrances.
Key Responsibilities
- Examine title history and issue title commitments
- Issue owner's and lender's title insurance policies
- Hold earnest money and escrow funds
- Prepare closing statements and prorations
- Coordinate closing with all parties
- Record deed, mortgage, and other instruments
When You Need One
Immediately upon executing a Purchase and Sale Agreement. The title commitment is ordered in the first week of due diligence to allow time for curative work on any exceptions.
Typical Cost
Title insurance premium is based on transaction value (approximately 0.5% of purchase price in Florida). Closing fees are additional ($500-$2,500+).
How MaxLife Works With Them
MaxLife Development works with established Central Florida title companies that understand commercial transaction complexity and can turn around ALTA commitments, surveys, and closings on developer timelines.