Final answer:
The seller is responsible for providing the affidavit of title to the title insurance company, which is a document certifying the seller's ownership and revealing any claims or encumbrances on the property. Escrow services facilitate the real estate transaction and may also manage ongoing expenses like homeowners insurance and property taxes by including them in the monthly mortgage payment.
Step-by-step explanation:
The individual responsible for providing the title insurance company with an affidavit of title is option B) the seller. An affidavit of title is a document provided by the seller that verifies the ownership of the property and discloses any known defects, liens, or encumbrances on the property. This document is a key part of the due diligence process in a real estate transaction, ensuring that the buyer is made aware of any issues that could affect their ownership rights.
Addressing the concept of escrow, escrow services act as a neutral third party during the real estate transaction. They handle the transfer of funds and documents between the parties, ensuring that all conditions of the sale are met before the transaction is finalized. Escrow services also potentially manage ongoing expenses such as homeowners' insurance and property taxes after the purchase, by incorporating them into a regular monthly payment for the new property owner.