Full Description Below:
So you’ve heard about this “Title Company” thing that is someone you have to pay when you buy or sell a home. But What does the Title Company Do?
In this video, Julie Turner will help you understand what a title company does in the real estate process. 🙌
Tune in our YouTube Channel to know the nitty gritty of Real Estate
Full Transcription Below:
It’s important to choose a very good title company because
we not only are there for you before settlement has happened,
we’re there for you during settlement time and then obviously
to provide the best services for settlement for all of our
clients. And that’s why MBH is really committed to ensure
the MBH is always positioned for your successes.
So today we are going to discover what is a title company
with Julie Turner from MBH.
Julie, thank you so much for taking time to explain to us
all of this amazing information.
How are you doing?
I’m doing great.
Thank you so much
Hello on the West Coast.
So, like what does the title company do?
What is the title company?
Like give us, give us the T.
What is this?
So you know, people are purchasing homes everyday, and everyday the
buyer and sellers are in contact with their real estate agent
and many are unaware that there’s so much involved after
ratifying in contract.
So ratifying a contract is basically just agreeing on the
purchase of a home on both sides, the buyer and the seller
and they come to agreement of purchasing this home.
And what do we do next?
So we hire a title company, we hire a settlement company.
Title and settlement company are in exchangeable, it’s the
So just depending upon where you are in the region, some
people say title company.
Some people say settlement company, but it’s the same thing.
We are MBH Settlement Group.
We are here in DC and we are here to help you with what happens
after ratifying contracts. We search records back 40 to
50 years to ensure that title is clear and that the home
and deed is eligible to be sold by the buyer and to make sure
that all the most recent things are recorded, we work through
all the details and protect the home buyer and to ensure
that the closing and settlement goes smoothly.
Okay, that makes sense.
How do you pick a title company or like what makes like the difference
in terms of like picking them or, you know for MBH?
What’s the difference?
So Mbh, we’ve been in business for 27 years here in the DC Metro
Virginia, Maryland area.
We have successfully handled over 200,000 settlements, and
our five star satisfaction rate can be found online in our
public reviews as well as our surveys.
We do with our clients afterwards. And picking a title company,
we see our home buyers,
our home sellers, our refinancers, and our real estate agents as
And we work every day to make sure that MBH is positioned
for their success.
It’s about open communication.
It’s about making sure that we are professional.
We know the industry and making sure that we offer a smooth
and professional closing for you and your client.
And you mentioned like, this, okay, so title contracts.
like what you mentioned this great example of title contracts.
Kind of like how like, give me that example.
You were talking about how like the reason you want a good title
company is because after the fact, it’s not just like, it’s not just during the
closing time, but even years and years later, like what was, what’s the
example you gave me?
So you know, for me and for us at MBH, we want to make sure that we
have an ongoing relationship with our clients.
We’re here for you before settlements happening.
We’re here for you while settlement is happening.
And then we’re here for you after settlements happening.
So to give an example, say, for instance, the home buyer
has been in their home for, I don’t know, 10 years, and they
get a new neighbor.
And so now you’re noticing the new neighbor that’s moved
in is building a fence, and you look up the window and you’re
noticing, well, this seems a little bit on my property so
they can call MBH settlement.
And while they were going through their settle process may
purchase a home survey.
And so the home survey is basically just showing the boundaries
and the borders of their property and making sure that they
know what yard is theirs versus who’s their neighbor’s. And
they can call us at any time, way after settlement.
Say, hey, we need a survey document.
Usually you do retain it when you do the survey.
But just in case you lose those documents, we can always
get them back up.
Hand them over to you and say, this is your survey of your
home that you purchased 10 years ago.
They can got out to their neighbor and say, excuse me, Mr.
Smith, you know here’s the proof of my survey of my home.
please do not build your fence right next to my kitchen window.
So it’s important to choose a very good title company
because we not only are there for you before settlement has
happened, we’re there for you during settlement time and
then obviously to prove your documents and making sure that
your property is insured and has a survey,
and for examples, like that I just gave.
No, it makes sense.
I guess you could probably have stories of people calling
We have some nightmares of just random things.
Someone owned a property sixty years ago and came and knocked
on the door and just got out of jail or something.
And this is my property and the current homeowners can say,
no, no, no.
We purchased this property five years ago.
We had a great settlement company like MBH Settlement Group,
and we got a homeowner insurance, title insurance, and it
proves that the property is ours.
So that is the biggest thing that title and settle on the
companies do is making sure that we’re passing on the deed
ownership of the home throughout the years to the correct
homeowner. And that title is clear in order to do so.
And so when something like that happens, you’re protected
and that is your property, that is your home.
I love the stories.
They’re so cool.
Let’s go into, okay so, you know we have different people picking title companies.
So if you are, you know, if have real estate agent, typically, they help you
If you’re an investor, that’s a little bit different, or
if you’re a whole seller, it’s a little bit different.
Or if you’re selling by owner, that’s a little bit different.
Could you kind of touch on that?
So like let’s start with the first one.
that kind of looks like a little bit in the gray area as an investor,
how do you pick a title company?
It’s all about educating people.
And for me, in my position as a corporate sales and marketer,
MBH settlemen Group, of course, a large part of my book of
business are real estate agents and buyers and sellers themselves.
But I really like to reach out to all those and people in
the industry of real estate, whether you’re a hard money
lender, whether you’re an investor, whether you’re a sale
by owner or a buyer and seller themselves, anyone in the
mortgage industry, a loan officer.
We’re here to service everyone that’s in the real estate
industry. So a settlement company does all the same things
for all those different clients.
You have a property that needs to settle.
You have a property that needs to go from one ownership to
the other ownership and to search title.
Make sure it’s clear.
Make sure all the deeds are recorded properly, and make sure
the settlement is taking place professionally and smoothly.
So regardless, if you are an investor or a hard money loan
officer or a buyer and seller, we work with them daily daily
and just making sure that they understand we are a settlement
company here in the DC area in Virginia and Maryland, and
we’re here to service you, but the process is the same.
The process is the same for all of them.
And if I’m not in those particular areas, like how do I… I guess,
how do I pick or find a a good title company?
We have business partners that do settlements outside of
the Virginia, DC and Virginia market, and I’d be happy to
refer those services to anyone who’s interested.
My email is J Turner, T-U-R-N-E-R @ MBH com.
Just reach out to me directly.
I’d be happy to help with any real estate settlement needs
that you have here, obviously, within the GC Metropolitan
Virginia, Maryland area.
But if you are looking for another title company or settlement
company that you need to settle outside of those areas, I’d
be happy to connect you.
So I guess, like working.
So if I’m in the DC area, like, what is it like working with
MBH? Like, how does that look like?
I guess, like, if I’m thinking about, Yeah, just like giving
you guys a call.
Yeah, I guess.
How would you describe that?
So for MBH, we want to make sure it’s a very streamlined
process. We want to make sure it’s very easy, streamlined
process. We currently have a new agent and buyer seller resource
hub is everything you need, and we all want to click away.
It’s consistent communication.
We have closing flexibility.
We have two electronic closing options, especially
in the unfortunate world of COVID.
We want to make sure that we keep our clients safe and feeling
good about you know wanting to close but securely.
We have the ability to deposit electronic EMD, which is your
earnest money deposits.
And then we obviously provide title insurance to our buyers.
We’re dedicated to all of our partnerships and communication
communities. A portion of each of our closing is donated
to a designated community, nonprofit and service organization,
which makes me feel really good about what we do, too, and
giving back with community.
And so we have these tools for our agents to make sure that
they are successful in this crazy market right now and making
sure that they can educate their buyers and sellers.
That’s so good.
The market is definitely things are moving quick, very quick.
Like in terms of cost association, does the buyer pay for
the title company as a seller?
Like, how does that typically work in terms of costs splitting
or sharing group?
Because we talk a little more about that.
So here in Virginia and again, there’s different jurisdictions
for different counties and States.
I’m not aware of anything outside of DC, Maryland and Virginia.
I do want to start off by saying that, but I know in the
state of Virginia, there is a settlement fee for the buyer,
and there’s a settlement fee for the seller.
So at the end of the settlment, towards the end of Settlent,
as you’re seeing as settlment table, there’s a document called
the Ulta, and it is a very itemized list of all the fees
that are incurred with closing your transaction.
So obviously the monies that are being exchanged from the
buyer to the seller in the purchase of the property.
There’s fees from the lenders, there’s fees from the title
company, and there’s fees, Unfortunately, that you cannot
surpass, THE TAXES! So whatever County or state you live
in. They’re going to charge you taxes on your proper party.
So with this ulta document, you can see itemized line by
line, what you owe to the title company, what you owe to
the mortgage company, what you owe to seller as the buyer
of the property. In Virginia, as stated, there is the buyer
side of fees, and there’s a seller side.
I know there’s parts of Maryland where the buyer is responsible
for all the settlement fees.
However, that can be negotiated.
Everything in real estate is negotiated.
Everyone who’s in real estate knows that everything and everything
in real estate can be negotiated.
So, but there are some jurisdictions in Maryland that I am aware
of that the buyer is responsible for all settlement fees
and so a lot of times the agents will go in and say, “Okay
let’s negotiate this”.
Let’s split it.
And they split it.
So again, depending on what jurisdiction of what state you’re
in to see is definitely communicated to the individual parties,
that makes sense.
Okay, so it just kind of depends, like how the sales go in
or like the market.
How markets doing.
Do you need a closing attorney?
Does the common questions like, what is this?
The one thing that MBH stands out, and one thing that we’re
very proud of is that we have 20 different offices here in
the DC, Metro, Virginia and Maryland area.
Within our offices, we have 20 managing title attorney that
can assist you with your settlement needs as well as title
professionals. And so, not all settlement companies provide a title
attorney who don’t need a title attorney to settle, but it
brings a little bit of, I guess, insurance to know that there’s
an attorney that’s looking at a very legal document.
A lot of documents, if not all, documents within a real estate
transaction, are a legal document.
It’s helpful to have a state title attorney to take a look at the
documents, explain the documents to your buyers and sellers.
You at any time as a buyer and seller have the right to hire
legal representation outside of title companies outside of
your real estate agent.
But here at MBH we have those licensed professional adult attornies
to help you with your process.
Yeah, like they’re on staff just as a little bit of extra, insurance.
And they’re the ones to set at the end of the table at closing
time to explain the documents that you’re signing.
Okay, so you know, 2021 everything, or 2020, everything kind of changed and stuff,
like with how we kind of do stuff like, how does that look
like in 2021 with doing title is it done virtually? like, how
for people who are wondering.
So I think everyone in our industry in real estate has just
had to pivot the unfortunate part.
I believe in our industry, it’s been such a belly to belly
industry. You know we’re people lovers, we love people.
And I still miss that very much.
But we’ve all had to pivot, and we’ve all had to become friends
with Zoom and meet people that way, which has been some silver
linings as well to that.
But here with MBH, we’ve been always actually technology
We had this in place prior to COVID.
So when COVID hit, it was just a simple, if anything, moving
or more with our technology that we have.
So again, with depositing at EMD, we have the ability to
deposit it electronically.
It’s as simple as when you deposit a check into your online
banking of taking a picture with your smartphone.
It’s something very similar to that.
So it’s very secure.
It’s very simple.
Agents love it.
We also have the ability to do hybrid closing.
So again, as long as the lender, the mortgage company is
okay with having all electronic signatures on the document.
We do have the ability to do 100% virtual closings.
If not, we do a hybrid closing, which is some documents are
signed via electronically and then some documents we can
overnight or mail or you can come into the office and head
We do hybrid.
We’ve done curbside closings.
We’ve done in the front yard closings.
We’ve done homebound.
We’ve had several persons that were elderly and we’re bedridden
and we’ve had an attorney go out there and sign documents
We have 20 beautiful brick and mortar offices throughout
DC Metropolitan in Virginia, Maryland area that are still
open for business.
We are very strict on our CDC guidelines and making sure
everyone’s staying safe.
We sanitize in between each closing.
We have one usage pens.
Mask, gloves, sanitizer, we do ask that only the parties that
are signing to be present.
We have a large conference room where you can be six feet
apart, obviously taking a consideration of just making sure
that everyone stay safe within this time.
But we have so many different ways to do settlements and
closings. We do settlements and closings that are international.
We have people who are in Egypt, Dubai, and Africa that need
to close and we are able to do that as well.
So I believe that we’ve been very, very innovative in making
sure that we provide the best services for settlement for
all of our clients.
Just kind of wrapping up here.
What’s the typical timeline for, I guess, like title and
settlement and all this if you’re going through the process.
So the typical.
And again, this is a typical closing settlement.
30 days is usually typical.
So you ratify contract.
The agent themselves have to go through their whole process
of home inspection, appraisals, whatever
addendum that need to be crossed off their checklist.
But soon, right after you ratify, you do hand over your contract
with a settlement company and it takes about typically 30
days to settle and pass keys from the seller to the buyer.
That’s so good.
Maybe in the future of the industry.
Where do you see the market going?
More so, like for title and settlement?
So I think we hope and we want the world to open back up.
And like I said, this is such an industry that’s belly to belly
such an industry that is personable, and I hope that it does
open up to a certain degree that we can still have those
PostNet relationships personally.
Belly to belly, but I think at the end of the day, so much
can be seamlessly done via virtually, via electronically.
So many things are being implemented to make sure that we
have a secure portal and hub in which agents and clients
can go into and communicate regularly with our title company
to make sure communication is there. Make sure all documents are
there. Make sure all the signatures are needed are there.
I do see that?
I think we are moving forward going to continue to be more
electronic and virtual, but we are open to servicing our
clients in which they are comfortable with.
So if it’s still pen and paper for them, we’re still here
Pen and paper.
That’s good to know.
Sweet Julie, is there anything else?
Any other questions I didn’t ask that maybe I didn’t cover
So I do want to cover one more thing for MBH.
Again, we just open and launched a new resource hub online.
If everything just one click away, you can get a quote if
you can place an order, provide documents to your buyers
and sellers so they know what happens next.
Within the settlement process, you can log into a secure
document portal to track closing processes, communicate securely.
There’s a resource library where agents can find a tool from
what to bring to settlement closing for your clients to an
electronic version of our Home Buyer Guide.
And we actually just got our Home Buyer Guide translated
into Spanish for all of our Spanish speaking community.
And Yeah, that’s huge.
I mean, I guess that goes along with kind of just again,
being electronic and being able to reach our clients and
giving them tools electronically.
And also coming May 3rd, we have our annual Cinco de
Mayo Continuing Education class.
So every year for the last three years, we’ve provided an
all day class of continuing education.
That’s something that you have to have a real estate agent
here in DC, Maryland, Virginia. Pre COVID, we used to do in person.
We would obviously have a big party and SCE classes and sponsored
lunch and things like that.
But now via Zoom it’s still just as fun.
We have a panel of professionals in our industry, brokerages,
mortgage loan officers.
Obviously, it’s MBH settlement group, and we just educate
our agents about what’s happening in the market.
What we foresee is going to happen and just having great
communication of sharing successes and challenges with what’s
going on in our market today.
After that, we have three hours of continued education for
our agents, and then we have a virtual happy hour.
We have prizes giveaways last year, I think we gave away
like a Margarita machine.
So it’s so much fun.
We have great attendance this year it’s via Zoom.
You register online again, if you need any more information
on that and want to register yourself, you can contact me
So that’s always a fun, exciting event that we have every
year. But just wanted to wrap up and let you know that business
is built on strength and your relationships and those relationships
are built on trust.
And so that’s why MBH is really committed to servicing, continuing
industry innovation and our partnerships.
And we’re driven to insecure the MBH is always ensure that
MBH is always positioned for your success.
I love that. So for getting a quote on the online.
How does that work?
Is it like you just put your information in?
So you go on mbh.com, and there is a tab that comes down, and
it’ll just get a quote.
Let’s say you have 1-2-3 Main Street, and you want to kind
of know what the closing costs are going to be for the one
you 3 Main Street for your client.
You go in there.
It just prompts you for questions.
What’s the address?
What’s the price of the home?
Just different items of what?
The different things like that associated that might affect
I guess like, the cost or something like that?
And it’s very simple.
It just the address and just whatever information it prompts
you to put in and put in.
And then at the end, it will give you a ballpark figure of
how much your price of settlement will be.
But then also again, reach out to me directly.
We can make a very pretty kind of co marketing price sheet
for you as an individual agent.
That’s another thing we do to help our agents.
We co market with them.
So it’ll just be a really pretty sheet.
And it’ll say itemized list of all the fees and costs that
are associated with settlement with MBH.
It’ll have the agent’s picture, name, contact information, and
we can provide that for you as well.
But you can go online at any time and just kind of get a
quick quote, quick quote.
Cool. Awesome. Sweet.
Julie, thank you so much for chatting and sharing some stories
and all about titles.
And what is this you know, so.
Awesome. I’ve had such a good time, Brian.
I can’t thank you enough for inviting me today.
Cool. Until next time.