Information for buyers, sellers and others interested in understanding the basic steps in a typical real estate transaction. 

 

 

SOLD!!      What Happens Next?
Now that you have decided to buy or sell your home, what happens between now and the time it becomes legally owned by you or another party?

 

Behind The Scenes - What We Will Do for You!
Earnest Money - An agreement to convey starts the process once it is received in our office. An escrow account is set up and loan application is made by the buyer. . 

Tax Check - What taxes are owed on the property? The various assessor-collectors are contacted by the title company.

Title Search - Copies of documents are gathered from various public records: deeds, deeds of trust, various assessments and matters of probate, heirship and divorce and bankruptcy are addressed.

Examination - Verification of the legal owner and debts owed.

Document Preparation - Appropriate forms are prepared for conveyance and settlement.

Settlement - Tom Santoro, Attorney at Law,  oversees the closing of the transaction: seller signs deed, buyer signs new mortgage, old loan is paid off and the new loan established. Seller, real estate agents, attorneys, surveyors, title company and others performing services for the parties are paid. Title insurance policies will then be issued to you and your lender.

  • Title companies and their agents search, examine, close and insure land titles. Title insurance policies are issued to the homeowner and the lender, assuring financial protection against adverse claims or risks.
  • Equally important, potential problems that may surface in the process of insuring a title can be resolved by the parties prior to closing their transaction. In this manner many risks that are otherwise hidden can be avoided.
  • Once purchased, title insurance remains in  effect for as long as you own your home. It adds security of ownership and peace of mind to the homeowner and lender.

Buying and selling a home can be one of life’s most complex, yet rewarding experiences. Before you put your house up for sale or purchase that dream home, give us a call, and let us simplify the process for you, so you can enjoy the rewards.