Below is a brief overview of the what you can expect from Ashley Title Company:
⦁ Once a title order is placed with our company, we open the file and it is assigned to a closer, who with the assistance of a pre-closer will begin working on the file.
⦁ As soon as a file is opened, we contact the realtors, the lender, the buyer and seller, and/or their attorneys, if any. By communicating with all of the players as early as possible, everyone has a better idea of the closing process and everyone knows their respective responsibilities.
⦁ As closing and title agent we will order the title work; our attorney will examine the title work, and we will issue a Title Insurance Commitment and Policy. If there are any title problems, we will work with the seller or the seller’s attorney to resolve them as efficiently as possible.
⦁ We will also order real estate tax information, a municipal lien search report, a condominium or homeowner’s association estoppel letter, if applicable, and payoff letters on any existing mortgages on the property. All of this information will be updated shortly prior to closing so that the most current information is known at the time of closing.
⦁ We will order the survey, if required; we will obtain the condominium association certificate of insurance, or follow up with the buyer and assist the buyer, if necessary, in securing homeowner’s insurance. We will also follow up with the lender to make sure that we have provided it with all of the closing requirements that it needs from our office.
⦁ We will review or prepare all of the legal documents that are required to properly complete the transaction and to make sure that all descriptions and names are accurate.
⦁ We will complete the closing statement as soon as the lender provides us with its final closing instructions. If an estimated closing statement is required by either party in advance of closing, then upon request, we can provide our best estimate of the final charges.
⦁ Either our attorney or one of our highly qualified closers will administer the closing and insure that all of the closing documents are properly executed and delivered. We provide both buyer and seller with a complete set of the closing documents at the time of closing.
⦁ Immediately after closing we take responsibility for providing the lender with all of its post-closing requirements; we payoff any outstanding mortgages, liens and charges against the property and we record all of the documents that are required so that insurable and marketable title is available to the buyer and the lender.
⦁ Before closing our file, our post-closing department makes sure that all outstanding charges have been paid and that proof of payment is received, including insuring that Satisfactions of Mortgage are properly recorded. We also issue and deliver to the buyer and the lender the Warranty Deed and the Mortgage and each one’s respective Title Insurance Policy. We also provide follow-up services and advice to purchasers, including advising them of their rights with regard to the real estate tax homestead exemption.
⦁ We digitally archive all of our files so that if a party to the transaction loses any of the closing documents and needs a copy of a particular document, we can quickly obtain a copy of that document and provide it to that party at no charge.