6 Steps to Closing

Once you’ve found your perfect home and your offer has been accepted, it’s time to close on your home. Many people think signing a contract on a house is the beginning of the end of the home-buying process; however, this is not necessarily true. The process can sometimes be time-consuming, but there are several steps you can take to ensure that it is painless. Read on to learn about what you can do to make closing on a home an easy process.

1. Find a Title Company — Often times, your real estate agent will place an order with a title company of their choosing once your offer is accepted. You can, however, choose your own title company. The title company will oversee the closing process and make sure everything occurs exactly as it should in this final step. So when you are ready to sign your purchase agreement, let your realtor know that you choose Emerald Glen Title
Agency and write Emerald Glen Title Agency in the purchase agreement.

2. Deposit Earnest Money In Escrow — Escrow is an account held by a separate party on behalf of the homebuyer and seller involved in the transaction. You will want to open an escrow account at this point and have Emerald Glen Title Agency receive a copy of the purchase agreement.

3. Title Examination — After the title order has been placed, Emerald Glen Title Agency will conduct a search to make sure the property is clear of any liens and encumbrances. If there are any issues, Emerald Glen Title Agency will take care of this without having to involve you in the process. Once the search is complete, Emerald Glen Title Agency will provide title insurance on your new home.

4. Purchase Title Insurance — There are two types of title insurance coverage: insurance for the lender and insurance for the owner. If you plan to obtain a loan, the bank or lender will usually require you to purchase a lender’s policy. The second policy is an owner’s policy to protect your home.

5. Obtain a Closing Disclosure — The bank or lender should provide a Closing Disclosure to you at least three days prior to closing showing the amount of money needed for closing. Emerald Glen Title Agency will also be in contact with you to let you know how to wire funds needed for closing.

6. Prepare to Close — Once you’ve received the Closing Disclosure, Emerald Glen Title Agency will contact you to sign your final loan papers and deposit funds. A final date and time will be set for your home to close, and everything will be in order to transfer ownership of your home at this point.

Closing on a house can be a long and stressful process, but it doesn’t have to be. Contact Emerald Glen Title Agency today so that we can help you transfer the house of your dreams and give you peace of mind!