A title company — a/k/a the Title/Settlement Agent — has a central role in the closing process. A title company:
- Ensures the property being purchased has clear, marketable title
- Ensures that the property has legal access and is not landlocked
- Obtains and reviews the title commitment
- Clears all underwriter title requirements
- Intakes and disburses the deposits and closing funds as escrow agent
- Coordinates the closing between the Seller(s), Buyer(s), Realtors, Attorneys and Lender (if applicable)
- Intakes and reviews the loan package for loan transactions
- Issues the Owner’s Title Policy insuring the Buyer’s title to the property against potential claims
- Issues the Lender’s Title Policy insuring the priority of the Lender’s Mortgage on the property
Following is a more detailed breakdown of the Title/Settlement Agent’s role:
1. Searches and Examines Title to the Real Property
Upon receipt of a new contract or title order from a lender, we order a title search through our title underwriter. The title search sets forth the property’s history as recorded in the Official Records of the county in which the property is located. The Official Records include prior deeds, mortgages, liens and judgments. A tax search is also pulled and reviewed to ensure all taxes that are due are collected at closing. For a purchase transaction, a lien search is ordered to ensure that there are no unrecorded municipal liens or violations against the property. The title underwriter then prepares a Title Commitment which includes Title Requirements. The Title Requirements set forth all items required to be resolved for Seller(s) to convey to Buyer(s) clear and marketable title. As Title/Settlement Agent we take all steps necessary to clear the Title Requirements. These steps include, but are not limited to, obtaining payoffs of any outstanding liens, judgments or mortgages and collecting payment for the required payoffs on the Settlement Statement. We also prepare and/or obtain any corrective instruments required to clear the Title Requirements. We communicate the status of title clearance to all parties throughout the transaction.
2. Escrow/Settlement Agent
As a neutral third party, we hold the buyer’s deposit and buyer and lender closing funds in a secure escrow account. The closing funds are released only when the contract conditions and title requirements have been met and, on loan deals, when the lender provides funding authorization.
3. Closing Coordination
We prepare the settlement statement which sets forth tax and maintenance assessment prorations, payoffs of mortgages, liens and judgments, government recording charges, commissions, title premiums and any other closing costs. On loan files, preparation of the Settlement Statement or Closing Disclosure includes balancing with the lender’s figures and collecting payoff of credit cards if instructed by the lender to do so. In addition, our office intakes and reviews the loan package and advises the lender of any discrepancies so that corrections can be made pre-closing. Once the lender has approved the Settlement Statement, we distribute it to all the parties for review and comment. Once we balance with the lender and the lender releases the loan package to us, we schedule the signing.
4. Disbursement and Recording
After signing and once the lender provides funding authorization, our office disburses the settlement proceeds to the appropriate parties including paying off existing loans and liens and disbursement to realtors and seller(s). We then record any title curative documents, the Deed, Mortgage and any documents required to be recorded by the lender or Title Underwriter.
5. Issuance of the Final Title Insurance Policy
Once the required documents have been recorded, we then issue the Owner’s and Lender’s Title Policies. Your Owner’s Title Policy protects your title to the property for as long as you own it.
Why It Matters Which Title/Settlement Agent You Choose
As a top-ranked title company with decades of experience, we catch title issues early on and work to resolve them quickly. We immediately communicate these issues to the parties so that all parties have a clear understanding of what is necessary for the transaction to proceed to closing. We then commence title clearance. If it appears there will be an unavoidable closing delay because of clearing title, we communicate this right away and advise what steps are being taken to clear the issue as well as an estimate of how long it will take to do so.
Choosing a less-qualified Title/Settlement Agent may result in last-minute surprises or closing delays.
American Dream Title Company — a Top 5 Aventura title company for 2025 — has closed thousands of transactions throughout the State of Florida, all with collaboration, when needed, with our parent law firm, Leopold Korn, P.A.
We have closers available who speak Spanish, French and Russian.
Start Your Closing With American Dream Title Company
American Dream Title Company is based in Aventura, Florida and serves buyers, sellers, lenders, and real estate professionals throughout the State of Florida. We were recognized as a Top 5 Title Company in Aventura for 2025 (BusinessRate, based on verified Google reviews). We were also the top title agent for Fannie Mae throughout our 11-year tenure with it prior to its moving settlement services in-house. We issue policies as an authorized agent for Fidelity National Title Insurance Company, Old Republic Title (which has merged with The Fund), Stewart Title Guaranty Company, and First American Title Insurance Company.
Call (305) 964-8020 or (305) 356-8423, email us at shorton@americandreamtitle.com or visit us at 18851 NE 29th Ave, Suite 410, Aventura, FL 33180 to request a quote or open a new title order.