INFORMATION FOR THE BUYER:
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BUYER'S CHECKLIST: To help your Settlement go smoothly, Buyer's will need to provide Continental Title Company, Inc. with the following items at or prior to closing: Proof of Insurance - The lender requires that you obtain homeowners insurance as a condition of loan approval. Contact the insurance agent of your choice to obtain coverage. Please have your agent fax us a copy of the insurance binder. This information is essential for us to prepare the final closing documents. Cashier’s Check - Payment in the form of a cashier’s check is required for additional down payment or closing costs in excess of $1000.00. Identification - At closing, you will be asked for a copy of your Driver’s License, or some other valid government-issued identification that includes your picture and signature (required under the Patriot Act). Contractual Obligations - The sales contract should contain all agreements between the Buyer and Seller and must be signed. Any changes must be initialed by both parties. Continental Title Company, Inc. will conduct your closing according to the terms and conditions specified in your sales contract. If you have any questions regarding the terms of your contract, please consult with your real estate agent or attorney prior to closing. Power of Attorney - If you, or anyone that is part of your transaction, will not be available to attend the closing, you must notify your lender and Continental Title Company, Inc. as soon as possible. The absent person will need to appoint a replacement and execute a "Specific Power of Attorney". Common appointees are spouses, relatives, your real estate agent, or an attorney. Divorce, Bankruptcy, or Other Court Proceedings - If you or anyone that is part of your transaction is in the process of bankruptcy, divorce or any other court proceedings, you must notify your lender and Continental Title Company, Inc. as soon as possible. These issues could take time to resolve and need to be handled prior to closing. If you have any questions please click here to contact us.
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(410) 332-0820 (410) 625-4725 ADDRESS: Steps in the Closing
Process:
As soon as you go under contract you should
select your attorney. When selecting your Attorney it is important
the Attorney specializes in Real Estate Law.
Continental
Title Company, Inc. is owned and operated by Jerry S, Sopher
Esquire so you need not worry about hiring outside council to
conduct your Title Work and Closing.
The first step in the process is to provide a copy of the Sales
Contract to the attorney so they can determine that all the terms of the
contract have been met before you close.
A title search is then performed to make sure you
are taking title to the property free and clear. You then purchase a
title insurance policy under the attorney's umbrella policy. Because
the attorney has performed the title search he is then certifying
that the title is clear.
The attorney then orders a property survey and
reviews the survey for any encroachments that should be
resolved before closing.
The attorney then prepares the HUD-1 closing
statement to show how all the money is disbursed at closing and how
much Money you will need to bring to the closing table.
The Attroney then conducts the closing by reviewing with the
buyer all the loan documents provided by the lender and any other
documents that are needed to complete the closing.
After leaving the closing the attorney goes
immediately to the courthouse to record the deed, he disburses all
the funds as indicated on the HUD-1 and returns all the paperwork to
the lender.
Did You Know?
Continental Title Company was founded in
1962 by Jerry S. Sopher, Attorney at Law, and has been
providing Full Title and Escrow Services for over | |||||||||||
