There are many decisions to be made during the homebuying process. How will you finance the purchase? What is your budget? Who will you hire as your realtor? Likewise, there are a range of decisions as a seller. When is the right time to list? How much should you list for? What concessions are you willing to give the buyer? Although it can seem like the buyer and seller are put in opposing positions, ultimately they share the same goal: to close on the contract. What’s the best way to ensure that both the buyer and seller end up at the closing table, happy with the terms of the contract? By choosing the right closing company!

The closing process consists of several steps, beginning at the time the purchase agreement is signed and ending after closing.

• The closing company receives a copy of the purchase agreement. Earnest money is deposited into the escrow account, which may be managed by the closing company. The closing company begins assembling documentation from all relevant parties to ensure paperwork is assembled and complete.
• A title search is ordered and title insurance is purchased, if applicable to the terms of financing or the desires of the buyer.
• Closing documents, such as the loan agreement, deed, mortgage pay-off, and other required forms, are collected.
• On closing day, the closing agent will guide the buyer and seller through the closing documents. Signatures are collected, and then keys are handed off to the new owner.
• Following closing, the closing company is responsible for releasing escrow funds, filing, and recording the appropriate documents, and delivering closing documents to the lender or title insurance company.

The closing company is responsible for many behind-the-scenes duties. If any paperwork or filing is overlooked, closing may be delayed or unable to happen. When you are looking for a closing company, it’s important to ask yourself:

• Are they a respected, established company? Do they have the expertise and experience to complete your closing in a timely manner?
• Does the closing company offer other services to streamline the purchasing or selling process such as escrow services, title searches, or title insurance?
• Does the closing company use the latest digital technology to manage document uploads and signing, ensuring an efficient process?

At Clear Title, our closing management team has decades of experience under the leadership of Board Certified Real Estate Attorney Stephen R. Moorhead. We’ve handled thousands of real estate closings, and offer many other in-house services to create a streamlined closing process. Our use of cloud technology, as well as our three conveniently located offices, ensure that you have a smooth experience from the first signature on the purchase agreement to the last signature on your closing documents.