There are all kinds of people and services involved behind the scenes to make it happen. Since some of these services affect both you and the seller, there will have to be an agreement on which companies you will use for them.  When you make your offer, you should request your favorites for these services.  If you are unfamiliar with these service providers, you can get recommendations from your agent.

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You are going to need an escrow or settlement or closing company to act as an "independent third party" between you and the seller. Without having a third party involved, how do you know that when you close you are going to get the deed? This is the type of service provided by escrow and settlement. They will coordinate much of the activity that goes on during the escrow period.

The seller typically selects the "closing " company.  Read the clause in your purchase offer.

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Title insurance is important because, by providing you with an Owners Policy, they insure that you have clear title to the property. If there are any problems later, you can always go back to the title insurance company and have them clear it up. Since it is customary for the seller to pay for the owner’s policy, they have an interest in which company is used.

However, you are going to pay a fee to the title insurance company, too. This is for the Lender’s Policy. The lender’s policy insures your mortgage lender that there are no liens or judgments against the property and that the mortgage will be in first position. In other words, should you sell the property or refinance it, their mortgage gets paid first, before any other claims against the property.

The lender’s policy is less expensive than the owner’s policy.

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As part of your offer you may require a termite and pest inspection.  Many Companies are available to perform such inspections.

You should determine with your agent which company you want to perform this inspection and make it a part of your offer.

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