What is the role of a title agency in a commercial real estate transaction?

A title agency plays a critical role in a commercial real estate transaction in Delaware. The agency is responsible for researching the property’s history and ensuring that there are no outstanding liens or other legal issues that might affect the title of the property. The title agency typically provides an Official Title Certificate that includes the details of the transaction and serves as proof that the property has clear title and is free of any legal encumbrances. The title agency is also responsible for obtaining lien waivers from contractors and subcontractors who may have done work on the property. This ensures that the buyer does not end up with any potential financial responsibility for the work done on the property by someone other than the seller. The title agency also reviews any existing leases on the property to make sure that they are in compliance with state and local laws and that all parties of the lease are informed of the sale. Finally, the title agency assists with the closing of the transaction. The agency will prepare all of the necessary paperwork and coordinate with all parties to ensure that the commercial real estate transaction is done correctly and that everything is in order. It is important to use a reputable and experienced title agency in Delaware to ensure that your commercial real estate transaction is completed accurately and efficiently.

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What is the role of a title agency in a commercial real estate transaction?

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