The Harbor Title Process
LIFECYCLE OF A CLOSING
We’ve illustrated our process and what you should expect as your experience from the moment we receive your contract for a typical 30-Day Closing, for a Purchase, Sale, or Refinancing. Have something more nuanced? Call our team, and we will be happy to walk you through the complexities of your transaction.
STEP 1
We’ve received your contract
Email your contract to our team. Our office will open a new file, send out introductory emails, and begin to clear the property’s title, including but not limited to: ordering the initial title and municipal lien searches, order a survey, and if required, the estoppel.
STEP 2
Escrow Funds Due
Our team will email wire instructions. Most contracts require the Buyer to make the escrow deposit within 3 Days. Check your contract terms to make sure you don’t miss the deadline!
STEP 3
Title Search Complete
We will receive the title search within 2-5 Days and notify all parties of any issues requiring action or attention prior to Closing.
If there is an association that requires an application, this would be the time to apply for approval.
If you obtaining a loan, you should have submitted a loan application by this point. Refer to your Contract for specific deadlines.
STEP 4
Municipal Lien Search Complete
Municipal Lien Searches are completed within 5-10 Days. Our office will notify the parties of any outstanding permits or code violations.
STEP 5
Estoppel Complete
Homeowners and Condo Associations have up to 10 Days to complete a response to an Estoppel Request. By this point, we should have received the Estoppel Letter and can notify the parties of any violations, special assessments or delinquencies.
STEP 6
Ready to Close
At this stage, the boundary survey should be complete, and most title issues resolved (if any). If this is a cash transaction, we are likely ready to close.
If this is a financed transaction, we are in communication with the Lender, awaiting final loan approval and your Loan Package.
STEP 7
Prepare for Closing
A few days prior to Closing, our office will circulate a draft of your settlement statement with preliminary figures for Buyer, Seller, and Agent review. We will also coordinate for time and location of Closing with all parties.
STEP 8
Let’s Close the Deal
Buyer and Seller signings are usually completed separately. Depending on the specific transaction, parties may sign in our conference room, remotely, or online via e-signing.
After signing is complete, the Seller is paid and Buyer receives keys!
BONUS STEP
Give us 5 Stars on Google
When you have succesfully completed your transaction and feel that it was handled smoothly, professionally, and attentively, we would appreciate kind words and a 5-star review on Google.