Closing On A Home: What To Expect

Here is what every homeowner needs to keep in mind when closing on your next home.

Here is what every homeowner needs to keep in mind when closing on your next home.

When it comes to buying a home, you want to be confident in the purchase. In fact, having title insurance is a great way to get there. The tumultuous journey is almost over. The last part of a real estate transaction is the settlement process. With this, there is a lot to consider. Here is what every homeowner needs to keep in mind when closing on your next home.

Find A Closing Agent

If you are working with a real estate agent, then they may place themselves as your closing agent as well. However, you can always choose your own closing agent if you so choose. In fact, at the end of the day, you want someone there who you trust. When it comes to the closing agent, they’ll oversee the closing process and ensure that everything happens on time and in the proper manner.

Create An Escrow Agreement

The first thing that happens prior to closing is that an escrow agreement is drawn up. In fact, this document is reviewed for accuracy and completeness by your closing agent. The closing agent will also place your deposit into the escrow account where it will stay until the settlement process is complete.

Conducting A Title Search

The next important step in closing on a home is having a title search conducted on the property. In fact, once the order for title insurance is placed, the title company will then conduct a search of the records to see if there are any defects that need to be brought to light. The title search is a step in the process that allows homeowners to know if the property they are purchasing has any outstanding liens or encumbrances that may affect their ownership of the property. Dealing with any of these defects as soon as possible is always the best solution to any of these kinds of problems.

A Title Insurance Company You Can Trust: Colony Title Associates

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 and sell 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+.

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