Single source for settlement and escrow services for purchase, seller, refinance, short sale, and reverse mortgage transactions.
Recording
Recording is the act of putting a real estate document into the official records at the County Recorders or Recorder of Deeds Office. Usually, the types of documents that are recorded affect title to real property such as a deed, mortgage, easement, judgment, lien, foreclosure, or request for notice of default.
Fund Disbursement
Typically when a house is sold there is a third party company such as title, attorney or escrow company that facilitates payment of all parties. On the final date of closing, the buyer's bank will wire the money to the seller's bank. All other parties who are in receipt of payment such as realtors, fees for third party services, appraisals, etc. are paid either simultaneously (if wire transferred) or after the bank and the third party facilitator pays out by check to all other parties who are due funds from the transaction. This includes the seller's proceeds which will be adjusted by the fees that were paid to others on their behalf.
Title Policies
Title insurance protects both real estate owners and lenders against loss or damage occurring from liens, encumbrances, or defects in the title or actual ownership of a property.
Purchase
- Open File
- Communicate with buyer, lender (if loan), realtor (if there is a realtor)
- Order title search
- Once title search comes back, prepare title commitment and submit to lender
- Clear all title issues
- Prepare settlement statement/ docs
- Receive lender settlement docs
- Proceed to settlement
- Record deed(s)
- Disburse funds
- Issue title policy
Refinance
- Open File
- Communicate with borrower, lender
- Order title search
- Once title search comes back, prepare title commitment and submit to lender
- Clear all title issues
- Prepare settlement statement/ docs
- Receive lender settlement docs
- Proceed to settlement
- Record deeds
- Disburse funds
- Issue title policy
Sale
- Open File
- Communicate with seller, realtor (if there is a realtor)
- Request title commitment from buyer side
- Prepare deed
- Receive settlement docs from buyer side
- Proceed to settlement
- Forward signed docs to buyer side