Frequently Asked Questions – How the Paperwork Flows
We thought you’d be interested in how “The Law Offices of Martin Wilson” takes care of you. We have created the following “workflow” analysis to assist in this endeavor.
(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. 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.
(4) As soon as the Pre-Closer enters all of the information, a Title Search Request is ordered through an independent third party Title Examiner.
(5) 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.
(6) 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.
(7) Once the Title Search is received from the Title Examiner, we review 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.
(8) The Title Commitment is forwarded to the lender, revealing all of the outstanding issues and the requirements for clearing title to the property.
(9) The Pre-Closer and/or attorney coordinate efforts to obtain cancellations, payoffs, or to resolve outstanding legal issues that prevent the owner from holding clear title to the property.
(10) We attempt to create a preliminary Settlement Statement for review by the parties. The Closer now acts as liaison for the parties in correcting errors or making additional changes to the Settlement Statement.
(11) The lender forwards the closing package and closing instructions to the office of Martin Wilson via email, Internet transmission, fax, or courier prior to the closing.
(12) 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.
(13) The Closing Occurs 🙂
(14) At the conclusion of the closing, the Closer disburses checks to the seller, realtors and loan officers listed on the Settlement Statement. The Closer also sends out all payoff checks.
(15) After the closing documents are completely executed and notarized, and all conditions have been met, the file is picked up by a Post-Closer, who prepares the package for overnight shipping to the lender.
(16) The Post Closer forwards all remaining checks issued to pay items such as the Homeowners Association Dues, Insurance Premiums, Termite invoices, etc.
(17) All documents for recording are sent by a Post Closer. Once they are returned from the county (time frame varies by county), the file is audited, outstanding title policies are prepared and the original deeds and policies are sent out to the appropriate parties. Please note that it may be several months after the closing before the buyer receives this.