When is Your Real Estate Settlement Really Finished?

real estate settlement

A title insurance agency can work with you to make sure everything is completed after a real estate settlement.

If you’ve just left the settlement table and got through the tedium of all the paperwork, you may be looking forward to moving into your new home and making it yours. But not so fast! There are few major details that you need to look into after finalizing the purchase of your home. Here’s the rundown.

Title Company’s Responsibilities

After a settlement your title company still needs to do the following:

  • Send monetary disbursement to owed parties. That includes the payoff for existing mortgages, homeowners association dues, water bills, inspection invoices and other fees.
  • Record your new deed to reflect the new ownership and title interests in the property.
  • Send copies of your executed settlement documents that weren’t provided at the settlement table.
  • Confirm receipt of payment by the original lender and ensure payoffs are recorded at your county’s land records.
  • Confirm ownership interest is properly reflecting with your county’s recording office.

After Settlement

As you can see, there is still quite a bit of work to be done after a settlement and it’s important that you follow up with your settlement company to ensure that everything is completed in a reasonable period of time. A title insurance agent can provide you with records for your settlement so that you know the job is finished and all of your interests are protected. You will want to look into the deed, release and closing package.

Get in Touch with Colony Title Today

At Colony Title, we’ll make sure you don’t run into any complications with your property’s title and help you find cost effective solutions. Specializing in real estate title insurance in Maryland and DC, our agents will perform a title search, check all past documentation, and seek to uncover any fraud or forgery associated with the title. Protect yourself from legal intervention caused by property disputes and call Colony Title today!

If you have questions, the Maryland real estate insurance experts at Colony Title Associates can be reached by calling 410-884-1160 or visit ColonyTitle.com today!

 

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