UPDATED

The closing is the last step in the life of a CoreTitle order and a real estate transaction. The buyer comes to closing to sign all the necessary documents. The buyer signs many document, some of which include the Closing Disclosure (CD), loan documents, if applicable, and title company documents.  The settlement clerk distributes money to all necessary party’s.

We work with all parties involved to make sure everything gets to the closing table accurate and on time. Watch what happens after you send Core your title order; be an expert at your closing.

The Life of a CoreTitle Order from CoreTitle on Vimeo.

The Initial Request

CORE Receives a request for a Title Commitment which goes to our Title Production Department, who do the following:

• Property Data Report-confirms the address, lot and block-record owner
• County Search-ordered with a searcher
• Tidelands Search-search of flood zone area
• Patriot Search-certified search of lists published by the Office of Foreign Assets Control of the U.S. Department of Treasury
• Municipal Search-research to discover unrecorded municipal liens, code violations, special assessments, utility, and open or expired permits issues
• Tax Search-reveals the status of the taxes
• Survey- the title production department orders a survey if requested

Examination

The Title Examiner reviews the searches and then sends the Title Commitment to typing

Processing

• The processor receives the full Title Commitment Binder & distributes it to all parties requesting a copy
• The processor reviews the title & exceptions needing  to be cleared are handled at this time
• Seller side processors or seller side attorneys are sent a copy of our commitment
• The lender receives their commitment with all of our title charges & a preliminary CD, during this time we wait for confirmation that we are clear to close
• All parties are notified that closing can now be scheduled
• Once a date and time are chosen, the processor sends out settlement notices
• The Processor orders a bring down to ensure nothing new has been recorded against the insured property
• The lender then sends us their charges & a preliminary CD created and sent back to the lender
• Once the CD is approved , the lender sends their mortgage package either the day before closing or the day of

Settlement

• Our settlement clerk will go over all documents that need to be signed at the table
• The settlement clerk then sends the package to the lender for approval
• The settlement clerk disburses funds when she gets approval
• The closer sends the mortgage package back to the lender after settlement
• The settlement clerk then disburses all remaining checks and gets original documents ready for recording

Recording

• The recording department receives the originals and in most counties can e-record the documents
• The recording department downloads the documents, once this occurs they are ready for policy

Policy

• Once the policy typist gets the file with the recorded documents & marked up title commitment, the final title policy can be issued
• The Policy department orders The Lien Release Tracking with an outside vendor who follows up to ensure all liens & mortgages paid off at closing have been removed from record