Process - Landmarc Abstract and Settlement Services, LLC

5 BASIC STEPS FOR REAL ESTATE TRANSACTIONS

What to Expect

Starting the process

A sales contract is signed by the Buyer and Seller and delivered to the Seller’s Realtor, usually with a deposit check. The Buyer then selects a title agency/settlement agent whose job is to make certain that title to the property is marketable and there are no liens or judgments attached to the property that could affect the owners or lenders interest in the property. The title agent starts the closing process by opening a title order. A title search is ordered by the title agent along with real estate tax information and loan payoff information.

Title Search and Examination

The title search is a search of all public records to include deeds, mortgages, assessments, liens, wills, divorce settlements and other documents that affect title to the property. Title examination is the examination of the documents found during the title search to determine their impact on ownership of the real estate. At this point, verification of the legal ownership is made and any debts owed against the property are determined. Upon completion of the search and examination, a title commitment is prepared and reviewed and sent out to interested parties.

Document preparation and/or request to produce

At this point the closing agent reviews the lender’s instructions/requirements, reviews instructions from other parties to the transaction, reviews legal and loan documents, assembles charges, prepares closing statements and schedules the closing.

Closing

The title agent/settlement agent oversees closing of the transaction. At closing, Sellers signs a deed conveying ownership to the Buyer, along with a closing affidavit and other related documents. If the Buyer is financing the purchase through a mortgage lender, the Buyers sign a promissory note and mortgage. The title agent/settlement agent pays the Seller, real estate professionals, attorneys, lienholders at the closing or directly afterward.

Post Closing

After the signing has been completed, the escrow/settlement agent will forward payment to any prior lender, and pay all parties who performed services in connection with your closing (if they have not been paid at closing). The transaction documents are recorded in the county in which the property is located. Title insurance policies are prepared and sent to the Lender and Buyer. This all happens without any further actions by the Buyer or Seller.

Realtors

You need a trustworthy partner who understands your needs.
When you work with Landmarc Abstract, your job is easier.

Full service on every transaction
Timely and accurate title commitments
Superior communication
Knowledgeable and professional staff
Contract upload capability or drop off

REALTORS - ORDER TITLE

Lenders

Landmarc Abstract and Settlement Services, LLC is proud to say that we have the experience and know-how to exceed your expectations. We meet or surpass the compliance guidelines that are required of lenders.

Landmarc Abstract works with these national underwriters:

Stewart Title Guaranty and Old Republic Title

LENDERS - ORDER TITLE

Buyers

When you buy a home, you need to be sure the seller is the true owner of the property. You must also ensure that no outstanding issues damaging title transfer to you.

Why? Problems with the title can restrict the use of the property and ultimately result in financial loss. That’s where title insurance comes in and where Landmarc Abstract can help you.

BUYERS - ORDER TITLE

Sellers

Selling your real estate? Landmarc Abstract has a direct relationship with the Tunis Law Firm. We’ll prepare all the necessary closing documentation to make the transaction as smooth as possible for you and the buyer. We promise competitive rates, great communication, and amazing service.

VISIT TUNIS LAW

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