After you have signed your name on the dotted line and the contract has been sent to the title insurance company, what is a new homeowner to do? Once the title commitment is complete, it’s time for the deed packet. Here is everything new homeowners need to know once they have received the deed packet and what they should expect.
An Earlier Signature Makes a Smoother Process
The sooner you sign the completed the deed packet, the quicker the closing can occur. If the deed packet is sent back to the title insurance company promptly, it is easier to for them to complete their pre-closing tasks. For example, consider the information release, which ultimately allows the title insurance company to obtain all the mortgage payoff quotes. The deed and other documents must get reviewed to ensure that they will effectively meet the county recording requirements necessary to ensure a smooth recording.
Tell Your Title Insurance Company Everything
There is nothing worse than leaving your title insurance company in the dark about any critical information you may have about the property or the sellers themselves. If the seller doesn’t live close by, it could affect the closing process. If the seller lives some distance away, be proactive and provide this information to the title insurance company as soon as possible. There may need to be additional time tacked onto the process to ensure that the sellers can sign documents and return them on time to get the closing accomplished as expected.
The deed packet is a compilation of documents that are integral to the closing process. While the deed is certainly essential, there are other important documents in the deed packet as well. Affidavits, authorizations, and more are common components of a deed packet, and these often need to be signed by both the buyer and the seller of the property.
A Title Company You Can Trust: Colony Title
At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+.