Escrow Closing

The Closing Process and Escrow

The closing settlement process is a very detailed undertaking with numerous activities and people involved to ensure a buyer/seller closing is handled efficiently and in accordance with regulatory requirements.  When you are closing on your house, it is important to have good representation to take care of all the details to ensure that everything goes smoothly.

It starts with a purchaser and a realtor searching for a home and getting a lender involved to qualify the buyer for a loan. After a home suitable to a buyer is located, a contract is signed and sent to the title company. Once received by the title company they go through the process of:

  • Ordering/Completing a title search
  • Ordering payoffs of sellers loans
  • Requesting tax information
  • Prepare a title insurance commitment
  • Resolve title issues
  • Schedule Settlement/Closing date
  • Review closing instructions from the lender
  • Meet with buyer, seller, realtor, lender, to facilitate the closing
  • Receive certified funds from lender
  • After all lender requirements are met, disburse funds
  • Create lender packages
  • Send checks/wires for payoffs
  • Record at courthouse
  • Close out any escrow items
  • Issue final title policy

This long list of items creates a number of required paperwork steps and other requirements along the way.  Monarch Title can help make sure the process is handled with minimal disruption so that you can focus on what is important to you.