Above all, you should expect clear and timely communication. Your title company will handle all of the moving parts of the transaction, managing contact between you and the attorneys, lenders and the buyers or sellers. It’s a complex process. You need to be able to trust your title company to support your needs efficiently and professionally.
Once the title commitment is available for review, it will be made available to all involved parties for due diligence. When all contractual and title requirements have been met, the transaction will close quickly.
In the days before closing, the settlement statement (which discloses the purchase price, loan amount and all fees) will be drafted, reviewed and finalized by all parties. When conditions are met, documents will promptly be made available for signing—in person, by email or by overnight delivery of documents. Keep in mind that some documents must be executed in front of a notary public.
After closing, the title insurance agent will act as a settlement (or escrow) agent—updating the title a final time, recording the deed and deed of trust at the local clerk of court office, and transferring the funds due to the seller. Any loans the seller owed on the property will also be paid off, as well as the various service providers.