The History of First National Title Company
First National Title Company, commonly referred to as FNTC, is the first national title underwriting company in the United States. It was founded in 1980 in Plano, Texas, by Bill Shaddock. The company offers title insurance, closing and settlement services, and diverse real estate-related products.
FNTC’s first office was a single-story building located in the Dallas-Fort Worth area, which had only 12 employees. The company’s primary goal was to provide innovative services and exceptional customer service to the Texas real estate market, which they believed was lacking at the time.
Over the past 40+ years, FNTC has grown from a small Texas-based company to a national corporation with offices in nearly all 50 states. Their reputation of providing excellent service with honest and ethical business practices has enabled them to become one of the most trusted companies in the title industry.
FNTC was also a pioneer in developing and implementing technology for the title industry. In the late 1980s, FNTC was the first company to introduce computer-based title processing to the title industry. They also were one of the first companies to implement electronic closing services for real estate transactions, which has significantly reduced processing time and costs associated with closing on a property.
The founder, Bill Shaddock, has been recognized as a leader in the title industry for his commitment to innovative technologies, honest business practices, and responsible leadership. Shaddock and his team developed the first-ever digital policy jacket, which has become the industry standard, and also helped create the National Association of Title Agents to promote professionalism in the title industry.
Today, FNTC continues to lead in technology, customer-service, and business practices. They provide over 10,000 agents with underwriting support and millions of policyholders with peace of mind when closing on their property.
The company’s commitment to its employees, clients, and the real estate industry has been a driving force in its growth and success. FNTC remains a family-owned and operated company with a customer-centered philosophy that drives innovation in the title industry.
Services Offered by First National Title Company
First National Title Company offers a wide range of services for individuals and businesses in need of real estate title services. From title insurance and title searches to closing coordination and escrow services, they have everything you need to close your real estate transaction successfully. Here are some of the key services offered by First National Title Company:
Title insurance is a type of insurance that protects homeowners and lenders from financial loss due to defects in the title of a property. This can include errors, omissions, or undisclosed liens or encumbrances on the property. Title insurance is typically required by lenders when issuing a mortgage, and First National Title Company provides title insurance policies to both homeowners and lenders.
A title search is an examination of the history of a property’s title to ensure that there are no legal issues or claims against it. First National Title Company can perform thorough title searches to help identify any potential problems with the title of a property before the transaction is finalized.
First National Title Company has experienced professionals who can help coordinate all aspects of the closing process for a real estate transaction. This can include managing the necessary documents, coordinating with the various parties involved, and ensuring a smooth and timely closing.
Escrow services involve the use of a neutral third party to hold funds or documents on behalf of the buyer and seller during a real estate transaction. First National Title Company offers reliable escrow services to help ensure that both parties are protected and that the transaction is completed successfully.
A 1031 exchange is a tax-deferred exchange of one investment property for another, allowing investors to defer paying capital gains taxes on the sale of the first property. First National Title Company offers guidance and coordination services for 1031 exchanges, helping investors navigate the complex process and ensure that all IRS requirements are met.
Construction escrow services offered by First National Title Company involve the release of funds for construction projects in a controlled and regulated way to ensure that the progress of the project is meeting all intended objectives.
Overall, First National Title Company has a proven track record of excellence and professionalism in providing real estate title services to individuals and businesses across the country. With a commitment to quality and customer service, they strive to make the real estate closing process as smooth and stress-free as possible for their clients.
How First National Title Company Protects Your Investment
If you are planning to invest in real estate, you might be familiar with the concept of title insurance. Title insurance is a policy that protects your investment from any potential claims or defects in the title. First National Title Company, recognized as the first national title insurance company, is a trusted partner for real estate investors and provides a range of services to protect your investment.
1. Title Examination
The first step in protecting your investment is a thorough title examination. First National Title Company has experienced professionals who conduct a detailed search of public records to ensure that the title is clear and has no liens, encumbrances, or other defects. This process identifies any potential issues that could affect your investment. In case of a problem, First National Title Company works to resolve the issues or provides you with title insurance that will protect your investment.
2. Title Insurance
First National Title Company provides title insurance to protect your investment. Title insurance is a policy that protects against any potential claims or defects in the title. It covers the cost of any legal fees, settling claims, and loss of equity in case of a dispute. With title insurance, you can have peace of mind knowing that your investment is protected.
3. Escrow Services
First National Title Company provides escrow services for real estate transactions. Escrow is a process where a neutral third party holds onto the funds and other important documents related to a real estate transaction until the transaction is completed. This ensures that the seller receives the payment and the buyer receives the title. The neutral third party helps to minimize the risks of fraud or other problems.
First National Title Company offers escrow services for various types of transactions, including residential, commercial, and industrial real estate transactions. In addition, the company has a team of experienced professionals who can explain the escrow process, and also guide you through the process.
Real estate investments are sometimes complicated and risky, but when you partner with First National Title Company, you can rest assured that your investment is protected. The company has been in the business for many years, and has a reputation of providing excellent service to its clients. With their experienced team of professionals, you can trust First National Title Company to handle your real estate transaction with care and efficiency. Contact them today to learn more about their services and how they can help protect your investment.
The Importance of Choosing a Reliable Title Company
When it comes to buying or selling a property, a title company plays a crucial role in ensuring a smooth and secure transaction. A title company is responsible for conducting a thorough title search, examining public records to ensure no one else has a claim to the property, and issuing title insurance to protect the new owner from any potential title defects. It is important to choose a reliable title company to protect your investment and ensure that the transaction goes smoothly. Here are some reasons why choosing a reliable title company is important:
1. Protection from Legal Issues
A reliable title company will conduct a thorough title search to ensure that the property you are buying or selling has a clear title. This means that there are no liens, outstanding debts, or legal disputes that could affect your ownership of the property. If any issues are discovered, they will be resolved before the transaction is completed. Choosing a reliable title company can help protect you from any legal issues that could arise in the future.
2. Smooth Transaction
A reliable title company will ensure that all the necessary documents are in order and that the transaction is completed smoothly. They will handle the transfer of funds and the issuance of title insurance, ensuring that the new owner is protected from any potential issues with the title. A reliable title company will also communicate regularly with all parties involved in the transaction, including the buyer, seller, lender, and real estate agents, to ensure that everyone is kept up-to-date on the progress of the transaction.
A reliable title company will be transparent in all aspects of the transaction, from the fees they charge to the status of the title search. They will provide you with a detailed report of their findings and explain any issues that may have been uncovered. They will also make sure that all parties involved in the transaction understand the process and are aware of any potential issues with the title.
4. Experience and Expertise
Choosing a reliable title company means that you are working with professionals who have the experience and expertise necessary to handle your transaction. They will have a deep understanding of the local real estate market and the regulations governing property transfers. They will also have the knowledge and experience to spot potential issues with the title and take the necessary steps to resolve them. A reliable title company can provide you with the peace of mind that comes with knowing that your investment is in good hands.
Overall, choosing a reliable title company is essential for a smooth and secure real estate transaction. A reliable title company can help protect you from legal issues, ensure a smooth transaction, be transparent about the process, and provide expert guidance and support. When choosing a title company, be sure to do your research, read reviews, and ask for referrals from trusted sources to ensure that you are working with a reliable and trustworthy company.
First National Title Company’s Role in Real Estate Transactions
Real estate transactions can be complex and include various parties, such as buyers, sellers, lenders, agents, and others. First National Title Company plays an essential role in these transactions by ensuring that the transfer of ownership is legal and valid.
Here are the five key roles of First National Title Company in real estate transactions:
1. Title Searches and Insurance
First National Title Company conducts a title search to verify the property’s legal ownership, check for any outstanding liens, and ensure that there are no undisclosed issues that could impact the sale of the property. This search involves a review of public records, including deeds, mortgages, and other documents that affect the property’s title.
Once the title search is complete, First National Title Company can provide title insurance, which protects the buyer and lender from any future claims against the property’s title.
2. Escrow Services
First National Title Company acts as an independent third party that holds the buyer’s earnest money and other documents related to the sale of the property. This is known as an escrow service, and it ensures that all parties involved in the transaction comply with the terms of the sale agreement.
The escrow service can also handle the disbursement of funds, including the seller’s proceeds, loan payoffs, and other closing costs.
3. Closing Services
First National Title Company coordinates the closing, which is the final step in the real estate transaction. The closing typically involves the transfer of ownership, the signing of documents, and the payment of closing costs.
During the closing, First National Title Company ensures that all documents are correctly signed and notarized, the funds are disbursed as approved, and the appropriate parties receive copies of all necessary documents.
4. Document Preparation
First National Title Company prepares the necessary documents for the transaction, including the deed, bill of sale, transfer tax forms, and other paperwork required by state and local regulations. This ensures that all documents are legally binding and comply with the applicable laws and regulations.
By taking care of the document preparation, First National Title Company can help streamline the closing process and ensure that the transaction proceeds smoothly.
5. Dispute Resolution
In the event of a dispute or issue related to the real estate transaction, First National Title Company can serve as a mediator between the parties involved. This can help prevent legal disputes from escalating and ensuring that any issues are resolved quickly and efficiently.
By playing this essential role, First National Title Company helps facilitate real estate transactions and ensures that each party receives fair and equitable treatment.
In conclusion, the First National Title Company plays a crucial role in real estate transactions by providing essential services such as title searches and insurance, escrow services, closing services, document preparation, and dispute resolution. With the help of First National Title Company, parties involved in real estate transactions can have peace of mind that the transfer of ownership is legal and valid, and the transaction proceeds smoothly.