ABOUT CONTINENTAL TITLE COMPANY, INC. Home About Us Request a Title Schedule a Closing For Buyers For Sellers For Agents For Lenders Legal Information Driving Directions Contact Us Buying or selling a home is, for most people, the largest financial endeavor they will ever undertake. Continental Title Company, Inc. will efficiently and accurately handle this complex transaction.  What follows are the steps we will take to make sure your closing is a smooth and positive experience.    Continental Title Company, Inc.  will do an "abstract of title" which means searching the real estate records in the city or county where that particular piece of property is located. An abstract will (1) determine the legal owner of the property; (2) reveal any mortgages, liens, judgments, or unpaid taxes that will have to be satisfied before the property is conveyed; and (3) detail any existing easement, restrictions, or leases that affect the property. After the abstract is completed,  Continental Title Company, Inc.will issue a "title opinion letter", or if a title insurance policy is to be issued on the property, we will prepare a "Commitment of Title Insurance" to the lender and/or the prospective buyer. The title opinion letter and the title insurance commitment will each set forth all things that need to be completed or problems that need to be corrected before the purchaser can receive "clear title". The title insurance company will complete all the necessary documents and will undertake the steps necessary to correct any problems. Once these things are done, the parties are ready to exchange paperwork and "close" the deal. The purpose of the closing is to sign and exchange all the documents necessary to convey title, secure the lender, and deal with collateral issues such as leases, rights-of-way, etc., and to explain in a orderly manner the costs to each party. This is done by preparing a closing statement or what is referred to in the industry as a "HUD 1". The closing statement will include the mortgage lender’s charges, documentation fees, the payoffs to release any existing mortgages, proration of city and county taxes, real estate commission fees, survey fees, and any other costs associated with the deal. At closing, Continental Title Company, Inc. will collect the purchase money funds from the buyer and lender as well as the settlement costs from each party. With these funds, Continental Title Company, Inc. then pays all of the expenses of the transaction, pays off any existing mortgages, and pays the seller the net proceeds of the sale. All of this is done in accordance with the HUD 1 settlement statement. After the closing,Continental Title Company, Inc. will record the legal documents (deed, mortgage, assignments, etc.) at the county or city courthouse and return the original documents to the correct party. New owners receive their deed which should be stored in a bank lock box or other secure location. The lender receives the original mortgage documents which they hold until the loan is paid in full. Once the loan is paid, the lender will "release" their lien against the property at the courthouse, and will forward the original mortgage documents to the home owner. This is when the homeowner can enjoy the "burning of the mortgage" ceremony. Please contact Continental Title Company, Inc. if you have any questions or need further assistance  by clicking here. ABOUT CONTINENTAL TITLE COMPANY, INC. Continental Title Company, Inc. is a full service title company that provides title examinations, closings, escrow management, and insurance for residential and commercial real estate transactions in the State of Maryland. WHAT WE DO: Once yuor title order is placed with Continental Title Company, Inc., a title abstract is ordered as well as a location survey where required.  Continental Title Company, Inc. coordinates between the borrower/purchaser, the lender, the realtor and any builders involved in the transaction.  We then obtain mortgage payoff amounts as well as all pertinent tax, water and Homeowners Association figures.  We prepare the title insurance commitment, the Deed, the settlement sheet and in many cases loan documents. We conduct the closing, collect and disburse all funds to the appropriate parties, record all necessary documents including Deeds, mortgages and mortgage releases in the appropriate jurisdictions.  Once all documents have been recorded in the County, a final title policy is issued. Continental Title Company, Inc. will make sure the process runs smoothly from start to finish; and will do everything to make the purchase, sale and/or refinance of your property a smooth and positive process.  Please contact Continental Title Company if you have any questions or need further assistance  by clicking here.