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The day you close on the purchase of your home, or investment property, should be a time of celebration. While you're busy taking care of preparations to move, you should feel confident that skilled title professionals are busy with necessary tasks to make sure your closing takes place as you planned. The work of the title company begins weeks before the closing date. Take a moment to learn about the behind the scenes activities that lead to a successful closing. Once Preferred Title receives an order from you, your real estate agent or your lender, we review all information for completeness and accuracy and the countdown to closing begins. Timely completion of all aspects of the settlement is essential, to make sure a successful closing takes place. You will be contacted by our office to obtain closing date and time, as well the names of you insurance agent and others we will need to contact on your behalf. An abstract of title is ordered to review the seller’s title, this is a history of the ownership of the property, to determine that title to property is correct and complete. Preferred Title searches and examines the title and prepares a title commitment to send to your lender for approval. While the abstract of title is being prepared, Preferred Title’s staff is busy coordinating other matters, such as obtaining a written payoff from the seller’s mortgage holder; as well addressing any problems or discrepancies which may be discovered, so that they can be corrected. While each closing is as unique as the people involved, much of the behind-the-scenes work leading up to the closing is fairly commonplace for the skilled professionals performing it. It is our job to facilitate cooperation, coordination and compliance between all settlement service professionals involved with the transaction. The closing is where it all happens! Everything that has been done behind-the-scenes by Preferred Title and the other settlement parties, leads up to this day. The closing is the when actual transfer of ownership of the property from the seller to the buyer. (c) 2008 Preferred Title Company, All Rights Reserved. |