Buying, selling or financing real estate is probably the most significant financial transaction that anyone undertakes in their lifetime. It is an exciting time, although the process may seem confusing and intimidating. We strive to make the process less frustrating and expensive to you. We promise to provide you with an accurate and timely property settlement. If you are not happy with our services, we will refund your settlement fee-guaranteed. It’s our promise to you.
We have included information and links below to help answer your settlement questions.
An “escrow” or “sales” contract (agreement to close) starts the process.
Processing the file is when tax information, loan payoffs, survey if necessary, homeowner/maintenance fees, inspections/reports, and hazard and other insurances as well as legal papers are ordered and title commitments/preliminary reports are reviewed and sent out.
Search made of the public records. Records searched include deeds, mortgages, paving assessments, liens, wills, divorce settlements and other documents affecting title to the property.
Title examination is the examination of the documents found during the title search that affect the title to the property. This is when verification of the legal owner is made and the debts owed against the property are determined.
Review lender instructions/ requirements, review instructions from other parties to transaction, review legal and loan documents, assemble charges, and prepare closing statements and set closing.
Escrow/Settlement officer oversees closing of transaction. Seller signs deed, buyer signs new mortgage, Old loan is paid off, new mortgage is signed. Seller, real estate agents, attorneys and other parties to the transaction are paid. Documents are recorded in the county in which the property is located.