Buyer’s Guide To Settlement
Congratulations!
You’ve now hit the paperwork portion of the home buying journey —while less fun than house hunting, we’re here to guide you through the process and answer all your questions so you can feel as confident as you did when you said yes to the house.
An Overview of The Title Process
(1)
Title Ordered
Good Deeds will send a Welcome Letter that will outline points of contact for general questions as well as more specific questions related to the buyer’s transaction. We will also order a title search of the property — the typical duration of the search is 5-7 business days.
(2)
Identify Issues
Good Deeds will communicate any title defects that have been identified and need to be resolved prior to settlement.
(3)
Resolve Issues
Good Deeds works with the sellers to resolve all issues to generate a free and clear title.
(4)
Coordinate Settlement
Two weeks prior to your settlement date, Good Deeds will reach out to you to lock down a specific time for the settlement.
(5)
Settlement
It’s closing day! We’ll sign documents, exchange funds, and issue your title insurance policy. Make sure to check out our list of ‘What to Bring to Closing’ below so
you’re all set for settlement!
Title FAQs
Q: What is title?
A: Title is your right to own or use your property. Title also establishes any limitations on those rights.
Q: What is a title search?
A: A title search is an early step in the homebuying process, conducted of the public records, to uncover issues that could limit your rights to the property. After the title search is complete and any issues are resolved, Good Deeds can provide a title insurance policy.
Q: What is title insurance?
A: Insurance designed to protect an owner and/or lender from any loss or damage incurred from title defects, or threat to a current owner’s full right or claim to sell a property.
What To Bring to Closing
1. Homeowners/Hazard Insurance Policy with one year paid receipt or bill.
2. All cash closings require funds to be wired. Contact our office for wiring instructions.
3. Cashiers Check Made Payable to Good Deeds and Co.
4. Social Security Number.
5. Photo I.D.
6. Any special lender requirements.
7. Water and gas readings taken the day before or the day of settlement.
Post Closing Deliverables
We’ll send a post-closing package to the buyers (that’s you —except now you’re the owners!). After recording the paperwork in the county where the property resides, we’ll mail the original deed and mortgage (if applicable).
We’ll also provide a hard copy of signed documents at closing (electronic copies available upon request).