What to Expect From Your Closing
Congratulations on your Real Estate Transaction.
Below is a list of actions you can expect to happen from the time your contract is delivered to Stewart Title until your closing is completed. Please remember that all real estate transactions are and may vary. Please note: All documents referenced below are stored in SureClose®, our secure online file, for easy and convenient access by all parties.
- Contract is received by Stewart Title, a new title/escrow order is opened and a Certificate of Taxes is ordered from the County Treasurer.
- Earnest Money, when received, is deposited into a bank account according to instructions.
- A complete title examination of the property is done and a Title Commitment for insurance is prepared (usually within 24-48 hours).
- Title Commitment is distributed to all parties. The buyer is also copied with copies of any Covenants, Declarations or Restrictions affecting the property and a recorded plat, if applicable. If requested in the contract, copies of all the documents listed as exceptions on the Title Commitment are distributed to the buyer (within 24-48 hours).
- Contract and title commitment are reviewed by Escrow Department/Closer. Any unusual title requirements or issues are addressed. Seller is requested to complete an Information and Verification form.
- Three weeks before the closing date, the HOA statement and current loan payoffs are ordered. These, along with the property taxes, will be prorated to the day of closing.
- Two weeks before the closing date, a preliminary settlement statement is prepared and sent to all agents for review, notating any information that is outstanding and needed to close the transaction. Water/Sewer statement is ordered.
- Final settlement statements will be sent to all agents before closing. Purchaser's statements will not be complete until the lender's instructions are received by Stewart Title (sometimes the day of closing).
- Updated title search is performed on the property and parties.
- Certified funds are REQUIRED at closing. (Wire transfer)
- Documents are signed by all parties, closing is completed.
- Final closing packages/documents are provided to all parties on CD.
Final title policies are prepared and ready for distribution with final closing packages. All final documents are uploaded into the online SureClose® file. Original recordable documents are recorded at the County Clerk and Recorder's office and returned to applicable parties by the County Clerk and Recorder.
Thank you for choosing Stewart Title. We look forward to working with you!