There is a short time span between the signing of the contract and the closing date. Inspections are ordered on the house, a loan application will be processed, (except for cash transactions), an appraisal, survey, and title work are ordered. Legal papers will be prepared for the buyer/seller, including a deed, note, and a mortgage. The title of the property will be thoroughly examined for any defects, liens, or encumbrances.
A closing or settlement will take place, usually at the title company office. All documents will be signed, monies dispersed, and bills paid. Certain documents will be recorded with the county, and policies will be issued to the lender and homeowner via mail.
At RCAT, Inc. we search, examine, close, and insure land titles. Title insurance policies are issued to the homeowner and the lender, assuring them financial protection against adverse title claims or risks. Equally important are any potential title claims that surfaced in the search/examination process that can be resolved by parties prior to closing their transaction.