Though the responsibility lies with the seller to find a competent title company, it's in the best interests of both parties to get an adept and experienced agent to facilitate a swift and successful closing.

If you are refinancing, you may want to listen carefully to the recommendation of your loan officer. They work with different title companies every day and know who offers the best service and who to steer clear of.

With a new home purchase, the title search will most likely be chosen by the seller or the agent representing the seller. With a refinance, your loan officer can help you and recommend a Title company. Although you are not obligated to follow the recommendations, your loan officer will most likely base the opinion on the past, positive service the title company has offered.

Title Company - A title company provides title services when you apply for a mortgage loan. Often they will also provide escrow services.

A title company usually handles the disbursing of all money involved in a mortgage transaction. In a refinance transaction the title company will usually have the funds wired to them from the new lender and they will use those funds to pay off the old mortgage lender, distribute any/all third party fees and settlement charges, pay off property taxes and homeowners insurance payments that may be due or required to be paid, etc... If you are expecting to receive cash-out or cash back from the refinance transaction it will come from the title company. Many times they can wire the money into your account for you, especially if your are taking a lot of cash out from your refinance.

As an added service, many title companies will provide the necessary paperwork and forms, for people who are selling their home without a real estate agent. They do this, in hopes that you will allow them to do your title work once you have found a buyer.

If you find yourself in a for sale by owner transaction, the title company can also hold earnest money deposits, deeds, repair monies, etc in a non-interest bearing escrow account for the transaction. Keep in mind that hey may charge a fee to hold these items in escrow. Consult your title professional for more information.