The question most commonly asked is "What can we expect at closing"? We follow five basic steps from the time the contract is received to the closing of the transaction. MSC Title's experienced staff is committed to get the transaction closed – efficiently, quickly, and thoroughly.

• OPENING THE TITLE ORDER

  Once a title order or contract is received we will open a file, then promptly mail you a letter to acknowledge we have begun the process and introduce you to the MSC Title Closer and Processor team assigned to your transaction.

• PROCESSING THE FILE

  The processor begins to gather information regarding the Seller(s), Buyer(s), Property's legal description, Property taxes; and if applicable the Realtor(s). We recommend the Buyer(s) decide on how they will choose to finance their purchase (i.e. cash, lender) and how they would like to take title to the property (i.e. trust, corporation, LLC, etc). We request from the Seller(s) how they would like to receive the proceeds (i.e. wired funds, 1031 exchange, escrow check). If requested, we will order and obtain a survey and/or a termite inspection utilizing the best and qualified The service companies in our area with competitive rates.

• TITLE SEARCH AND EXAMINATION

  The Title Search is ordered with a Title Insurance Underwriter. The Underwriter will search the property and our examiner will determine what requirements are needed (if any) to clear the property for conveyance and issue a title commitment. The commitment is given to the Processor to clear or satisfy the requested items.

• DOCUMENT PREPARATION and/or REQUEST TO PRODUCE

  The Processor will call for the proper documentation: such as, a payoff statement for an existing mortgage, Home Owner Association estoppel letter(s) along with copy of approval letter (if applicable), and payoff for any claims or other liens/judgements attached to the property. A survey if applicable will be ordered and reviewed. This is the most important step in the process to assure your real estate purchase is clear and protects you against financial losses due to defects in the title.

• SETTLEMENT/CLOSING THE TRANSACTION

  The Closer/Escrow Agent prepares a Federal Regulated document referred to as a "Settlement Statement" or "HUD". This document depicts how the money is to be disbursed to all parties associated with the transfer of a sale or refinance. Once the Settlement Statement is properly executed there can not be any changes unles the person(s) who executed the document initials the change(s).

  The Closer/Escrow Agent will present the closing documents to the Buyer(s) and the The Seller(s). The two most important questions the Buyer(s) and Seller(s) have when closing is "How much money do I need to bring to closing?" and "When will I receive my/our proceeds?" When both sides of the closing transaction have properly executed all documents, the Closer/Escrow Agent will disburse the monies and give each person a copy of the closing documents.

  You will need to bring the following items with you to closing:

  Buyer

  • Proof of purchase of homeowner insurance, as required by a by a Lender (if applicable).
  • Photo identification (valid driver’s license, passport, or state-issued identification card).

  Seller

  • Photo identification (valid driver’s license, passport, or state-issued identification card).

  The closing may be handled as a mail away. This means that if either party or both will not be attending the closing at one of our offices located in Manatee, Sarasota, and Charlotte Counties. The closing documents are prepared and sent via Federal Express or emailed with explicit instructions as where to sign and which documents need to be notarized. Once the packages have been returned to our office, the Closer/Escrow agent will review all documents then disburse accordingly on the closing date.

  The MSC Title Closing team strives on presenting total professionalism and open communication throughout the entire closing process to provide a smooth and efficient closing as possible.