A lot! We coordinate the transaction between buyers, sellers, real estate agents, lenders, and third parties. We examine the land and title records for the property. We prepare the legal documents required for the transfer of the property. We conduct the actual settlement where all the documents are explained and signed. We are responsible for receiving and disbursing all the money in the transaction to the seller, agents, payoff lenders, and 3rd parties,. We record the new Deed and mortgage document in the land records.
You will also need to bring a valid government issued picture I.D. such as a Driver's License, Passport, or Military I.D. You may also be required to bring additional documents which our office will inform you of in advance.
Unfortunately, no. We require all funds be wired to our bank prior to settlement. This is necessary so that the funds are available at the time of settlement. Our office will provide you with wire instructions. Due to fraud you should always call to verify these instructions and do not accept changes to our wire instructions via email.
While the time of a settlement can vary greatly, typically a refinance will take between 30 and 50 minutes and a purchase will take 45 minutes to 1.25 hours. We will typically ask sellers to arrive 30 minutes after buyers so the buyers can complete the signing of their loan documents prior to the sellers' arrival.
At a purchase settlement, typically the sellers, purchasers, and the real estate agents attend At a refinance settlement usually only the borrowers attend. Of course, all settlements are conducted by an attorney.
Title insurance protects an owner of real estate against any property loss or damage they might experience because of liens, encumbrances or defects in their title to the property. Examples of a defect are another person claiming ownership, improperly recorded documents, fraud, forgery, encroachments, and unknown easements.
If you have specific questions about Title Insurance, please call and speak to one of our attorneys who will be happy to answer any questions.