Six Steps to Closing a Minneapolis St. Paul Real Estate Transaction

At Trademark Title Services, we’ve developed a six-step process to move from the beginning of a transaction to the closing that finalizes every transaction. Understanding these steps can help all parties know what is going on behind the scenes as their transaction proceeds.

• Step 1 – Opening a Title Order: Once the parties in a real estate transaction have finished their negotiations and come to an agreement on all issues, they create a Purchase Agreement and a Title Order is made with Trademark Title Services. This begins a complex chain of processes, all leading to the closing date. A tentative closing date, based on our experience and the needs of the parties to the transaction, is set, and a schedule prepared.
• Step 2 – Processing the File: Trademark Title Services opens a file for each transaction and gives it a unique identification number. All information and documents are maintained using this number. At this time, we order tax information, loan payoffs figures, plat drawings, homeowner association maintenance fee information, inspections, reports, and hazard and other insurances, as well as any needed legal papers.
• Step 3 – Title Search: Our experienced title search staff searches public records regarding the property in question. Deeds, mortgages, paving assessments, liens, wills, divorce settlements and other documents affecting title to the property are searched and every detail is noted. All of this information becomes part of the file.
• Step 4 – Title Examination: Our experienced Title Examiner examines the documents that were found during the search that affect title to the property. We verify the legal owner and determine all debts owed against the property. We then work with the seller and agent to clear any issues that may exist with the current title and need to be resolved before a sale can be completed.
• Step 5 – Document Preparation: Our expert staff of closers and escrow officers review lender requirements, review instructions from other parties to the transaction, review legal and loan documents, assemble charges and prepare closing statements. We then confirm the closing date, and schedule a time convenient for all parties. All necessary documents are assembled and a detailed plan for closing procedures is developed.
• Step 6 – The Closing: At the time specified, all parties gather at one of our comfortable, well lit, spacious locations, including buyers, sellers, agents, and legal counsel if required. Our seasoned staff of closers and escrow officers oversees closing the transaction, making sure each step is fully and properly completed and understood by the parties. Deeds, mortgages and other pertinent documents are executed and signatures are made by sellers and buyers. Parties to the transaction are paid, and documents are packaged and distributed as needed. Following the closing, documents are recorded in the same county in which the property is located.

Trademark Title Services – Minneapolis St. Paul Title Services for Home Closing

Even though most of the title process takes place in the background, Trademark Title Services knows how important a smooth transaction is to all parties. Our staff works as efficiently, professionally, and diligently as if you were looking over our shoulders the whole time. We make sure that you’re informed of progress and notified well in advance of any issues, to allow ample time to correct those issues. We’re dedicated to meeting your goals for a smooth, on time closing. Contact Trademark Title Services today to discuss how we can help make your upcoming real estate transaction a pleasure rather than an ordeal.