Once you’ve signed the contract to your new home, it’s finally delivered to the title company, and the title commitment is fully complete, what happens next? The Deed Packet arrives! Many homeowners are blindsided by a deed packet when they receive it and typically aren’t aware of what it is exactly. Here is a handy guide to help you navigate the deed packet for your home purchase.
Early Signatures Will Result In Smoother Closings
If there’s one thing to remember when it comes to your deed packet, it should be that early signatures will mean a smoother closing in the long run. The sooner the completed and finalized deed packet is sealed and sent back to your title company, the easier it will ultimately be to complete the pre-closing tasks that are required. For instance, the information release that is part of your deed packet allows title companies to obtain the actual mortgage payoff quote. This means that the deed and all the other documents must be appropriately recorded and reviewed to make sure they will fully meet the various county recording requirements that are set in place.
Inform Title Company If The Seller Doesn’t Live Nearby
If the seller of the property in question doesn’t live close by, they may need some extra time to ship the completed and finalized documents back to the title insurance company within the required time frame given. The deed packet is an incredibly important part of the closing process, but it must be completed before closing can commence. Having a seller who lives in a different state can prolong the process, which can hinder closing as a whole.
Why The Deed Packet is Important
There is nothing more important than completing all the required documents needed for closing as soon as possible. Additionally, there is nothing better than ensuring you have all the records properly documented to guarantee the title insurance company will have a smooth closing process and that you can get into your new home as soon as possible.
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+.