Six Essential Steps You Must Follow When Closing

Insurance Blog

A title closing company will assist you in the closing process. There are several steps that you will need to take to make sure that the closing process is successful.

1. Initial Research

To begin the closing process, you will need to sign a contract. However, before signing the contract, you will want to perform extensive research on your home and the surrounding area. You should discuss this with your real estate agent.

2. The Deposit

The deposit that you will need to make for closing is held in an escrow account. This is meant to protect both the home buyer and the seller. Another way to protect you is to have the home inspected. This is often considered to be an optional step but it is one of the best ways to avoid purchasing a home that will later have problems. 

3. The Title Search

One of the roles of a title closing company is to perform a title search. By performing the title search, you will be able to make sure that nobody is able to make a claim to your property afterward. For example, if there is a possibility that another individual has the title to your property, they might be able to bring a stop to your sale.

4. More Research on the Title

There might be some issues with the title, and you won't want to face it alone. Instead, you will want to contact a title closing company that will be able to clarify any particular issues that you are experiencing with the title. This can include disagreements over who owns the title, fraudulent claims made on the title, and any back taxes that might be owed. You will not be able to complete the transaction unless any problems with the title have been resolved. 

5. Signing the Necessary Documents

There are various documents that are needed to finish the closing process. This includes the owner's title insurance policy, personal identification documents, promissory notes, mortgage and associated loan documents, and several other documents. 

6. Filing the Documents

Once the documents have been assembled, a time and date is set for everyone involved in the sale to close. All the necessary documents are signed and recorded in the public registry.  The documents are then stored electronically and can be retrieved from the cloud. This will make it easier to prove ownership of real estate. 

Contact a title closing company to learn more. 


1 June 2022