Handle For Sale By Owner

• Order title search from the Underwriter
• Title examination by  one of our Licensed Title Agents
• Prepare title insurance commitment and comply with all requirements
• Tax search
• Order mortgage payoffs for open mortgages and all liens
• Request Homeowner/Condominium Association payoff letters for maintenance fees
• Inquiry Homeowner/Condominium Association for special assessment and litigation information
• Check for municipal liens, code violations and open permits for the county the property is located in.
• Coordinate the loan closing and title insurance for the new lender
• Prepare all legal documents, loan documents, affidavits, power of attorney, bill of sale, deeds, etc needed to complete the sale.
• Prepare the Closing Disclosure (“CD”) or “HUD” (this closing statement form now used only for cash transactions)
• Pay off open mortgages, liens, judgments and HOA dues as part of the settlement process
• Coordinate and conduct closing with all parties to the transaction
• Disburse closing funds and pay off all parties
• Record the deed and mortgage and all other necessary documents with the Clerk of the Court IN A TIMELY MANNER.
• Issue owner’s and lender’s title insurance policy (approximately 8-12 weeks after closing)

What is the responsibility of the buyers and sellers in a For Sale By Owner transaction and NOT the responsibility of the Title Company?

• Negotiate sales price or contract terms
• Preparing and signing a contract
• Coordinate inspections
• Review or monitor loan application process for the buyer
• Trouble shoot any issues that are not related to title defects
• Sellers must close out open permits and code violations
• Negotiate price adjustments, request for seller credits or any other matters between buyers and sellers
• Any matters normally handled by a Realtor or Broker