Security Title of Davis County is committed to providing clients with a fast, efficient, and reliable method to close on a property. In many real estate transactions, the real estate agents will work with buyers and sellers to come to an agreement on the sale or purchase of a property. Once the negotiations are complete, and a price is agreed upon, the closing process is just beginning. With a purchase agreement signed, the process is sent over to our title company to ensure everything goes through correctly. We work hard behind the scenes in a process called “Escrow.” During this time, we will go through several processes to ensure the bank is able to send over the funds to the buyers and sellers and the title is free and clear of any issues from previous owners. Here are some details about our process and what is going on “behind the scenes” after you sign a purchase agreement:
- Prepare a Title Abstract – We perform a complete search of all public records and documents regarding the property being purchased or sold. We will verify ownership of the property and identify any issues (liens, tax liabilities, etc.) that must be cleared up before the property can change hands.
- Prepare a Title Opinion Letter or Commitment of Title Insurance – We lay out documents to clearly explain what must be resolved before title to the property can be transferred.
- Prepare for Closing – Our team will go through a multitude of documents carefully to ensure everything is signed, dated, and ready to go for the closing date. The documents must be accurately prepared for actual closing as it clearly explains the costs and charges related to the property, and what must be paid off at the time of closing. Timing is crucial as the closing is set for a specific date and we work hard to have our titles closed on time.
- Communication – We always keep our customers in the loop when it comes to closing dates and financial needs. We want to make sure all parties understand the process and where things are currently standing. Our goal is to stick to a tight schedule to avoid disruption to our client’s lives. We make sure each person clearly understands each step of the process and what is currently happening in relation to the targeted closing date.
- Closing on a Property – Our team will carry out the closing at our Clearfield office. The closing process will involve a member of our team explaining the various documents and how the money exchange works in relation to a lender and a property owner. We make sure funds are distributed appropriately and all signatures are made to make the loan and title valid. Our well-organized process makes closing on a property a swift process so you can get back to your daily activities.
- Post-Closing Actions – Once you have closed on a property, we will record all legal documents in the appropriate county and send these documents to the correct parties. A new homeowner will receive the deed to the property and the lender will receive the mortgage agreements they will continue to hold until the mortgage is paid.
There is a lot of information that must be obtained and recorded during the escrow process. There are small setbacks that can arise at any time during the closing process, which is why our team works tirelessly to ensure our clients are informed every step of the way.
Security Title of Davis County is known as one of the most reliable, helpful, honest, and accurate title insurance companies in Utah. We are proud of our reliable services and dedicated team. We have been in your shoes and we are here to help reduce the anxiety and stress that come with closing on a new home. Contact Security Title today for all your title needs!
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I have worked with Security Title for over ten years. They have closed hundreds of loans for me. They are extremely knowledgeable, thorough, and above all, friendly. I recommend them for any and all title needs. My customers love them too! Simply the best!!!!