Information for Sellers
Selling your property requires a lot of work and attention to detail. Our goal at Best Rates Title Company is to provide you with a high quality work product to help make this transition in your life easier.
The Settlement and Closing Process for Sellers
1. Our closing department receives the title request.
The closing department will open a file relating to the sale of your property, and begin collecting information for the closing.
2. We perform a title search on the property.
We perform the title search by reviewing the county's Registry of Deeds and probate records to determine who owns the property and whether there are any liens or attachments on the property. We also look for any easements, covenants, or restrictions on how the owner can use the property. If the title search reveals any title defect, it is the responsibility of the owner to correct the defect before proceeding with the closing.
3. The closing is then scheduled for a date and time that is convenient for all parties.
4. Our closing department then prepares the HUD-1 Settlement Statement.
5. Next, the closing is conducted by members of our staff.
All pertinent documents, including deeds, mortgages, and lender and state forms, are signed. We prepare recordable documents for the Registry of Deeds.
6. Then, we collect all closing funds for the charges collected on the HUD-1 Settlement Statement.
7. After collecting the funds, we update the title, and record at the appropriate county's Registry of Deeds.
8. We then disburse all closing funds for the charges collected on the HUD-1 Settlement Statement.
9. Finally, we prepare the title insurance policies.
Please contact us today. We will be happy to assist you with any questions you may have regarding title insurance and the sale of your property. Our goal at Best Rates Title is for your closing to be handled smoothly, and with the attention you deserve.