Buyer's Attorney may order title insurance. Any problem with title or survey resolved by Seller's Attorney. 12 - The Bank Attorney prepares the mortgage documents and establishes a closing date with Buyer's and Seller's Attorneys. 13 - The closing takes place at offices of the Bank Attorney. All documents are signed.
Money is collected and disbursed in escrow.
Title is formally transferred and documents are recorded at the County Clerk. 14 - The first title insurance policy is issued. Recorded deed returned to Buyer and recorded mortgage returned to Bank Attorney by County Clerk. Closing is a major process in a real estate transaction. It can be complex and sometimes difficult, but the process is designed to protect both buyers and sellers and produce the results both are looking for.