Title company in the USA is the same as a notary’s office in Germany
So we have found our dream of a country. What happens next? The contract goes to the title company. It carries out the purchase in trust. It carries out the title search, arranges for the money to be transferred, divides the costs and prepares all the documents.
We then went to a few builders and asked them about it, but they didn’t see the need for these measures. So we didn’t do it. There were also no owls, mangroves or rocks on the property. And we didn’t actually know what we wanted to build and how.
In the meantime, we had received a closing date from the title company. This is the day the contract is signed. This is where the buyer and seller or a representative or a supporting person such as a broker or lawyer meet to sign the contract. The title company then arranges for all entries to be made in the land registry.
The nice and different thing about this procedure is that the seller pays all the closing fees. We only had to pay a comparatively low three-digit fee compared to the horrendous four-digit notary fees in Germany for the expenses.
You can also be sure that there are no more contaminated sites on the property. Because this was researched very carefully. After signing, we naturally celebrated a little while our documents were on their way to the authorities. A few weeks later, we were registered as the new, taxable owner.