For Sale By Owner – The FSBO process in Missouri:
Monarch’s job in relation to a for sale by owner (FSBO) in Missouri is to conduct a title search and order any reports, surveys, etc. needed to transfer property ownership and provide the title insurance and prepare settlement statements for the buyer and the seller.
The title search is a public records examination of the property’s title to determine that the property has a clean and marketable title. This process includes going to public records in Missouri and finding any outstanding mortgages, judgments, or unpaid taxes associated with the property. We also look for any restrictions, easements, and other issues that may affect the title ownership.
Monarch will issue, after a search and exam is complete, a title commitment that shows what items need to be cleared prior to close and issuance of a title policy. Two policies apply, the owners’ policy and the lenders’ policy. The owner policy protects the buyer, lender policy protects the lender.
Monarch will host and facilitate the closing on neutral ground, as an impartial service provider we do not work for the buyer or the seller. Monarch collects all the documentation needed from both sides, making sure everything is filled out and signed properly.
Monarch will work with the mortgage lender, as applicable, we will prepare the settlement statement, as directed by the lender, the settlement statement contains all the costs associated with the sale and purchase of the property.
Monarch will maintain an escrow account to keep closing funds until the closing is consummated and lender approves disbursement of funds.
Monarch will record and file the proper closing paperwork with the appropriate government agencies.
Involving Monarch with a for sale by owner helps safeguard the business deal, provides trust between both seller and buyer and makes sure the deal is completed smoothly and efficiently. Monarch has 4 offices, Jefferson City, Columbia, Brookfield and Boonville to help with your closing where you ever you are in the state. Call us today and learn how we can help you with your FSBO home sale.