Buying or selling a home is a significant milestone, and navigating the closing process can feel complex. One crucial aspect is understanding who handles the settlement, often referred to as the title company. This process ensures all financial transactions are handled correctly and ownership is transferred smoothly. Making informed decisions about your settlement agent is key to a stress-free experience, and it’s important to know your rights and options in Virginia.
When it comes to selecting the company that will manage your closing, Virginia law is quite clear. According to Virginia Code section 55.1-1006, it’s the buyer who has the exclusive right to choose the settlement agent. This means that if you’re purchasing a property, you get to pick the title company or attorney who will handle the escrow, closing, and all related settlement services. This provision ensures that the party making the purchase has a direct say in who facilitates such a critical part of their transaction.
Now, what about sellers? While sellers don’t get to pick the settlement agent, they absolutely have options to protect their interests. Sellers can hire their own attorney to represent them specifically regarding the settlement process. This attorney can handle tasks like preparing the deed, negotiating fees, reviewing documents, and offering legal advice throughout. Importantly, if a seller has retained an attorney, the settlement agent cannot charge the seller any fees without written approval from that attorney.
Even though sellers can’t select the settlement agent, they can still engage a title company for services outside of being the official settlement agent. However, the exact scope of what a seller’s title company can do is less defined, as they cannot act as the primary settlement agent. This is where choosing a partner like Red Rock Title becomes incredibly beneficial. When you choose Red Rock Title as your settlement agent, you gain more than just a closing service; you gain peace of mind.
Red Rock Title understands that sellers have unique needs and concerns during a real estate transaction. By partnering with us, even when the buyer selects us as the settlement agent, sellers can benefit from our comprehensive services. We can work alongside your chosen legal counsel or provide advisory services that ensure your legal and financial interests are fully protected throughout the entire closing process.
Choosing Red Rock Title means you’re opting for a settlement company that prioritizes clarity, efficiency, and client satisfaction for everyone involved. We pride ourselves on being a community-focused business that helps neighbors navigate their real estate journeys. When you need a settlement agent who is dedicated, knowledgeable, and committed to a smooth transaction for all parties, look no further than Red Rock Title. We’re here to make your closing experience positive and successful.
