The Closing


Ever wondered what happens behind the scenes to get your closing package ready for the big day?



Ready to Purchase

How to Search

Lending Info

How to Make Offer

Closing Info

Roles of Players


Negotiation Tips

Appreciation Info


The Fine Print

Good Faith Estimate

HUD1 Statement




  Get It in Writing
Do all of your negotiating in writing. It may seem cumbersome, but there are no guarantees with oral agreements or commitments. Avoid discussing terms with the seller or the seller's agent while your offer is on the table.

We thought you'd be interested in how title company takes care of you. We have created the following "workflow" analysis to assist map the process.

(1) The lender for the Buyer/Borrower usually orders the Title search and engages the attorney for a closing transaction. We may receive your title order via email, fax, courier, or website.

(2) The title order is directed to a staff Pre-Closer. In most cases, the Pre-Closer is assigned to your file by the first letter of the Borrower/Buyer's last name. The Pre-Closer's primary function is twofold: to gather all of the information and documentation necessary to clear the title of all outstanding debts, liens, and/or judgments, and to educate all of the parties about their roles in the process, what to expect during the closing, and what must be brought to closing.

(3) The Pre-Closer inputs the data contained in the Title Order into title software system.

(4) As soon as the Pre-Closer enters all of the information, a Title Search Request is automatically transmitted.

(5) Simultaneously with the Title Search Request, a series of informative letters are automatically generated to all of the parties involved in the closing transaction, including the loan officer, agent(s), borrower(s), and seller(s). These letters are forwarded to their respective addressees via email, fax, or regular mail, whichever is most convenient for the intended party.

(6) Generally, the loan officer will call the Pre-Closer to schedule the closing after the order has been sent. We will also schedule the closing with the Borrower/Buyer and coordinate this with the lender and seller, if needed. The closing is placed on the network's scheduler, providing a deadline for completion of the file.

(7) The Pre-Closer will contact the Borrower/Buyer, Seller, and/or agents to request any information necessary to close the loan -- including current mortgage, insurance, termite, survey, etc.

(8) Once the Title Search is received, a staff attorney reviews the Title Exam for any outstanding items that appear of title -- including previously paid mortgages that have not been canceled of record, unresolved liens, taxes, or survey issues.

(9) The Title Commitment is forwarded to the lender, revealing all of the outstanding issues and the requirements for clearing title to the property.

(10) The Pre-Closer and staff attorney coordinate efforts to obtain cancellations, payoffs, or to resolve outstanding legal issues that prevent the owner from holding clear title to the property.

(11) The Pre-Closer turns their file over to the staff Closer, who is responsible for creating a preliminary Settlement Statement for review by the parties. The Closer now acts as liaison for the parties in correcting errors or making additional charges to the Settlement Statement.

(12) The lender forwards the closing package and closing instructions to The Law Office of Sam Maguire via email, Internet transmission, fax, or courier prior to the closing.

(13) The Closer finalizes the closing package by adding names and dates to the documents to be signed, collating the file, and preparing the list of conditions which must be obtained by the Attorney at closing.

(14) The Closing Occurs!

(15) At the conclusion of the closing, the Closer disburses checks to all of the parties listed on the Settlement Statement.

(16) After the closing documents are completely executed and notarized, and all conditions have been met, the file is picked up by a staff Post-Closer, who prepares the package for overnight shipping to the lender.

If closing after 3p then funding may not complete until funds have cleared and keys are not issued until funds are clear