What we do
We provide title and escrow services for District of Columbia, Maryland, Virginia, Pennsylvania, Delaware, New Jersey and Florida real estate transactions. Our time-proven methods and in-house legal staff with decades of title experience ensure that your settlement will go smoothly. We know your sale, purchase or refinance is very important to you.
After a buyer and seller negotiate terms and sign a sales contract, much must be done before they can officially “close” the deal. As the title company we ensure that:
- all provisions of the real estate sales contract are fulfilled;
- the Seller has good and marketable title;
- the Lender’s conditions are met;
- all costs related to the sale are paid and/or prorated between the parties;
- the sale proceeds are disbursed in accordance with the Seller’s directions as well as local laws;
- instruments are recorded among the local land records
Throughout the settlement process, we deal with sensitive financial information. Accordingly, we’ve instituted a system of safeguards and checks to ensure yours remains protected … from network security, to how we communicate with third parties, to how we handle and transfer funds relating to each closing.
Prior To The Closing Day
Upon receipt of the signed contract, we contact the sellers and buyers to obtain information so we can prepare documents and order loan payoffs. Government records will be searched to determine whether liens and/or judgments encumber the property. A survey will be ordered and reviewed to see if there are any encroachments on the lot or whether any buildings violate set-back lines or easement areas. Real estate taxes are verified and communicated to the lender along with a preliminary title report or title insurance commitment. When the lender provides closing instructions, a Closing Disclosure (or in some cases, a Settlement Statement) is prepared which shows all adjustments and payments that will be made in connection with the transaction. Then parties review the disclosure/statement for accuracy and to determine final figures and then meet at settlement to “close” the transaction.
On Closing Day
The sellers, buyers and any real estate agents gather at one of our offices or some other agreed location to approve the settlement statement and sign documents. Parties and agents discuss and appropriately settle any outstanding contract conditions. With lender approval, funds are escrowed as necessary for any discrepancies and as security for any seller rent-back or post-closing matters. Keys are passed and the deal is closed.
We disburse funds to the appropriate parties in accordance with local law. Once a final “bring-down” title search is completed and legal documents are recorded, title insurance policies are issued. Although the Deed and any security instruments are recorded soon after the closing, government authorities can take some time to return the original documents.
This is a general overview of a purchase and sale. For refinance transactions, our work is much the same but there are fewer parties and payments.
Need more info? Try our Frequently Asked Questions page.