At Terra Settlement, our goal is to provide our buyers with full-service title insurance at the best price. Your comfort level is key to a successful transaction. We want you to know what is going on with your purchase of real property. We promise to be transparent and communicate with you, so you stay informed. The process of purchasing real property can be complex and scary. Not with Terra Settlements- we will be with you every step of the way.
As a boutique title company, we can afford to be transparent with our fees. Most buyers don’t know that the title premium cost is set by statute, so your cost should be the same no matter what title insurance company you use.
However, most title insurance companies add extra fees in. We do not “pad” our fees. We ensure that our buyers get the best deal around on quality title insurance.
Pre-Closing: We will start the closing process by opening your title order. We will order tax information, loan payoffs, homeowner’s association information and a title search of the public records. Upon completion of the search and examination of the returned information, we will prepare a title commitment. We will also prepare a closing protection letter for your lender if you have one.
Closing: At closing the buyer(s), seller(s), real estate agent(s), attorney(s) and loan officer(s) meet to finalize the transaction between the buyer(s) and seller(s). While at settlement the buyer(s) and seller(s) will be presented with various documents for their signature. Among the documents that a buyer will sign are the Closing Disclosure or HUD-1 Settlement Statement, the deed, and all the lender’s loan documents including the note, mortgage and various disclosures. We will explain all the necessary documentation to you.
Post-Closing: After closing, we will continue to work to complete your transaction. We will:
- Prepare and return the lender’s package;
- Record the deed and mortgage;
- Disburse all funds to appropriate parties (Funds must be in our escrow account and available for withdrawal at the time of settlement for us to disburse.);
- Issue the owner’s and lender’s title insurance policy; and,
- Verify that all prior mortgages and lenders have been paid off and record all releases.