1. Research & Mortgage Qualifications | 2. Shopping for a House | 3. Contract & Mortgage Application
4. The Title & Settlement Process | 5. Closing & Move In

The Title Agent’s Role

Your Title Agent is the point of contact for all of the parties involved in your transaction. The Title Agent is responsible for coordinating many of the details associated with a real estate transaction. The following, outlines many of the tasks handled by your Title Agent:

• Research courthouse records to determine the status of title
• File documents (record) at courthouse after closing
• Insure buyer’s title to property
• Verify legal description
• Verify county assessment office tax parcel identification information
• Notify the local real estate tax collector of new owner’s name and mailing address
• Collect and disburse all funds necessary for purchase
• Clear all outstanding mortgages effecting property
• Notify homeowner’s association of new owner’s name and mailing address (if applicable)
• Verify status of real estate taxes
• Coordinate with buyer’s homeowner’s insurance agent, to see that appropriate coverage is in effect at closing
• Review mortgage lender’s document package and prepare for settlement
• Provide security from loss or theft for settlement funds, through bonding and insurance
• Collect and disburse funds from mortgage lender
• Schedule closing with all parties: buyer, seller, real estate agent, lender, insurance agent, and attorneys
• Clear property of any outstanding Domestic Relations Division liens for unpaid child support

Attending the Closing

Closing (also called Settlement) is the final step in buying a home. Once it's complete, the home is yours.

A number of people attend closing. They usually include:

• The home buyer
• The home seller
• The closing agent
• The real estate agents

Steps in the Closing Process

The time between your offer being accepted and the actual closing meeting can be longer than you think. There are a number of steps in between, including:

Setting the closing date.
The closing date is set when your mortgage is approved and you sign a commitment letter with your lender. Make sure the closing date is before your lock-in rate expires.

• Reviewing the documents.
  Ask for the closing documents before the actual closing and read them carefully. Understand what you'll be asked to sign before coming to the closing.
• Understanding the closing costs.
  Closing costs can include many different things and can add up to a sizeable amount of money. Be prepared. Know exactly what's included in your closing costs and the total amount you'll be expected to pay at closing.
• Attending the closing.
  Closings are standard in the home buying process, although there are a few states where this may vary. At closing, you'll sign documents, like the closing statement, the mortgage and note, and the truth-in-lending statement.
  
  Proof of insurance and inspections, as well as any monies due, are required before you get the keys to your new home.

The settlement agent or escrow agent should obtain this documentation on behalf of the lender. Payment will need to be in the form of a certified check or a cashier’s check. Funds may also be wired.

For more information and answers to questions frequently asked by Sellers and Buyers go to: BUYER’S and SELLER’S FAQ