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Realtors’ Roles with their Title Company

I: Contract to Purchase Real Estate:

  • The Property (lines 3-5)

  • Financing Contingency and Seller Paid Closing Costs (lines 12-16)

  • Warranty Covenants of the Deed (lines 19-25 and 39-44)

  • Title Insurance (lines 26-27)

  • Tax Pro-ration (lines 28-38)

  • “Make Deed To” (lines 77-78)

  • Acceptance (lines 80-84)
  • Earnest Money (lines 56-67 and 86-89)

II: Listing Agent’s Pre-Closing Checklist:

  • The “Prelim” Report

  • Name of Clients and Marital Status

  • Open Mortgages and Account Numbers

  • Commission Agreements and Splits

  • Social Security Numbers

  • Contract Expenses for Inspections, Warranties and Repairs

  • Closing Cost Concessions and Post Inspection Agreements

  • Photo IDs

  • Credit Consent Authorization Forms

III: Selling Agent’s Pre-closing Checklist:

  • The “Prelim” Report

  • Name of Clients and Marital Status

  • Contract Inspection Invoices

  • Homeowner’s Insurance Premium and Agent Name

  • Closing Cost Concessions and Post Inspection Agreements

  • Good Faith Estimate from Lending Institution

  • Earnest Money Deposit

  • Cashier’s Check for Closing Funds

  • Lender’s Closing Conditions

  • Photo IDs

IV: Role of the Title Company:

  • Settlement Agent

  • Disbursing Agent

  • Title Insurance Agent

 
www.sterlinglandtitle.com Home
Customer Center
What is Title Insurance
What is the Homeowner's Title Insurance Policy?
Role of the Realtor with their Title Co
Various Types of Deeds Used in Real Estate Transfers
What to do When the Seller isn't the Seller
 
 
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