Lender places order for title commitment with title company of buyer's choice. Title company examines all of the above and prepares a title commitment. Title problems, if any, are resolved. Parties are notified of closing date and time. Seller's attorney begins to prepare closing documents.
Lender prepares their loan documents and forwards to title company closer.
Title company closer prepares and balances the final HUD-1 Settlement Statement with Seller's attorney according to terms of the purchase agreement. Funds are collected from the respective parties. If you are selling registered land, you should bring along the owner's duplicate Certificate of Title. Upon compliance of all lender, title and purchase agreement requirements, funds are disbursed and the title to the property is delivered from seller to buyer. The transaction is now complete.