Real Estate Closings

The process of buying or selling a residential property can be a confusing and bewildering process, and it is our hope that after reviewing the information on these pages, it will be less so for those engaged in this process.  Essentially, the process begins with a realtor, either representing the seller in showing a property to buyers, or representing a buyer in finding properties for sale and arranging for the buyer to see them and eventually contract to purchase one.  At this point, the realtor usually will guide the buyer through the negotiating process until a price is agreed upon and a contract is signed.  

At this point, the title agent becomes involved.  The title agent is a neutral third party, who will often hold the buyer’s deposit until closing, and will assist both sides of the transaction in obtaining surveys, lien searches, mortgage payoffs, condominium fee information, lender-required documents, etc. and marshalling all of this information through the closing.  The title agent will also write title insurance on behalf of a title underwriting company.  Kelley Roark PA uses the underwriter Chicago Title Insurance Company, which is one of the oldest and most respected in the business.  Title insurance is what guaranties that the seller has the property rights to sell to buyer, and that there are no surprise mortgages, liens, judgments, or other “encumbrances” on the property that have not been disclosed before the buyer closes on the purchase.  At closing, the title agent takes the stacks of documents received from the lender (if there is financing), and has the task of explaining these documents to the buyer and ensuring that they are all signed properly and returned to the lender timely.  Finally, the title agent takes the buyer’s check and the lender’s wired funds, and uses these funds to pay everyone who is entitled to payment as part of the closing, including the realtor’s commission, the surveyor and lien search fees, unpaid taxes, condo fees (if any), mortgage broker fees, courier fees, and recording fees, documentary stamps and intangible tax which are sent by the title agent to the county government with the original documents sent for recording. 

Essentially, the title agent is your “go-to” for all aspects of the closing process, once the contract has been signed, which is why the choice of title agent is such an important one.  It is easy to see why an experienced title agent, with a solid underwriter and a first-class computerized access system will be an asset to any transaction, but when personalized service is added, we believe we have a winning combination. 

For a more detailed description of the closing process and typical closing fees, click HERE

You will find more links to mortgage calculators, closing calculators, typical closing forms, and other resources in the sections below designed for each participant in a closing transaction.

To place an order, feel free to use this link or any on the right side of the pages on this site, called Place an Order.