If you are a buyer looking to buy a property using a loan, the best move you can make is to get pre-approved by a lender and then prequalify for a certain loan amount before you start shopping so you know what your price range is. After that then you can start the steps below.
Find a Realtor
Find a property you like and sign a contract
Submit Order (Contract Received)
We have received your order and have assigned a file number to it. The title examiners will begin searching the property history.
Title Examiner Searches to Produce Commitment
The examiners typically search back to the 1800s to ensure that title has passed down properly in every instance. They make note of anything that may need to be taken care of prior to closing.
Review/Satisfy Commitment Requirements
Title finishes searching and tells the closers/you what is required to be completed before closing can occur. The closers are responsible for transferring things like HOAs, ditches, and wells. The closer DOES NOT: Provide legal advice, Negotiate terms of the transaction, or provide investment advice.
After you/we have satisfied all requirements on the commitment then we can schedule the closing. The buyers and sellers do not need to sign together so that means that you can be a mail out and the other party can be present. The documents are overnighted via UPS if you decide to be a mail out.
Depending on if you are present or a mail out you will sign the documents either on the day of your closing (present) or a few days prior (if a mail out) so we have enough time for the documents to be turned around and back to us on or before your scheduled closing date.
Money and Documents Exchange Hands
SELLERS: PLEASE NOTE you will typically receive your proceeds on the first business day after closing. BUYERS: BE AWARE OF WIRE FRAUD! Watch this video to learn more.
After documents have been signed and money has exchanged hands then you are free to celebrate!