THE CLOSING PROCESS
Once we receive a title request from a lender or a fully signed purchase agreement from the parties or their realtors, we get started on your file. A title search is performed on the property and information from the parties or their realtors is gathered to get the process under way. From there it grows to a team effort between the lender, the title company, and the real estate agents. Our technology will keep you informed every step of the way.
lender
- Loan application
- Credit history
- Obtain tax documents and asset information
- Employment verification
- Verification of closing funds
- Appraisal
- Match closing disclosure with title company
- Underwriting
- Clear to Close
- Send loan documents to title company
Title Company
- Title search and production of title abstract
- Review of title abstract
- Provide commitment for title insurance to the lender
- Process lender closing instructions
- Prepare closing documents
- Settlement
- Disbursement of funds
- Recording
- Post-Closing
- Issuance of title insurance
Real Estate Agents
- Submit contracts to lender and title company
- Keep buyers and sellers on track with contract dates and contingencies
- Update parties on inspections and contingencies
- Follow up with lenders and title company to stay on track
- Review settlement statements for accuracy
- Exchange keys with the new owners
- Celebrate!
