The closing process of a Cape Coral or Fort Myers real estate transaction is complex, requiring the cooperation and coordination of all parties involved. At Title Junction, we have the experience and know-how needed to make sure the you get from contract to closing table in an efficient and timely manner.
The process begins when we received the sales contract or title order. This is when the count-down to closing starts. From this point, timelines and document preparation become a key component to closing the transaction.
The next step is to conduct a detailed search of county, state and federal records. After we review the search, we prepare a title commitment that is sent out to buyers, sellers, realtors and lenders. Communication is a vital part to closing any transaction.
Next, our staff obtains all the necessary documents and information to get to the closing table. There is crucial information that must be obtained from the buyer, seller, real estate agents, lenders and any other professionals involved in the transaction. Examples of this would be obtaining mortgage payoffs, current taxes, homeowner association fees and any other lien or assessments.
We work closely with the buyer, seller, realtors, and the bank to make sure that all parties involved receive all of the information they need in a timely manner. We communicate with each party involved in the transaction to make sure that everything comes together seamlessly, and nothing falls through the cracks.
Order Additional Services
We also order additional services if they are required or requested such as inspections, appraisals or surveys. For instance, most lenders will require that a survey be done. However, if there is no lender, a survey is not required but the buyer could still request to have one done.
Prepare Settlement Statement
As soon as all the necessary information and numbers from the lender are collected, we prepare the Settlement Statement showing the breakdown of fees, costs, charges and credits. We provide this to all parties as early as we can so they may have a chance to review the Settlement Statement so there are no surprises at the closing table. You may also hear the terms; HUD, CD or Closing Disclosure.
Update and Final Review
Before closing, we update the title work and we check for any information that may need to be updated or is required to be updated. Then, a final review is conducted by one of our settlement agents and once they are satisfied that all documents are in order, the date and time is scheduled and confirmed with all parties.
Now it is finally time to close your real estate title. At closing, we explain all the documents, including everything on the Settlement Statement. We also answer any questions and get any additional information that may have been requested by any of the parties.
Immediately following the closing, we have all the necessary documents recorded in the county clerk’s office. When the documents are returned to us, we issue the owner’s policy and send it, and the original deed, to the owner. We also send the lender’s policy and the original mortgage to the lender.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Everything That Makes Up Closing Costs