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CLOSINGS
What services do we provide as an Escrow Closing Agent?
After all parties have signed the purchase agreement, the title insurance
has been ordered and the title search has been completed...
- The first documents you will receive from Grand Island Abstract will be
the Escrow Closing Agreements. These agreements are an overview
of the purchase agreement, information for you to verify, complete and/or
correct. By executing these agreements, you authorize Grand
Island Abstract to act as your Closing Agent.
- Approximately two weeks prior to the closing, Grand Island Abstract will
order the required and/or requested inspections and the Seller's current
mortgage payoff.
- Grand Island Abstract will review the Title Insurance
Commitment. Your closing agent will then obtain the necessary
items to fulfill the title requirements to transfer clear title to the
Buyers.
- Your closing agent will prepare the Seller's closing documents,
including the Warranty Deed (document that transfers title to the property)
and obtain Seller's signatures. These executed documents will be
held in escrow until the closing with the Buyers. We also prepare
a final statement for each party, indicating amounts to be disbursed for
services and any further amounts necessary to close escrow.
- Your closing agent will then be in contact with the Buyer's lender or
attorney to balance the final closing numbers and prepare the final closing
statements.
- Grand Island Abstract will arrange a closing date and time with the
Buyers and advise the Sellers of when their proceeds will be
disbursed. We are responsible for collecting and disbursing funds
in connections with the closing including title insurance, recording fees,
real estate commissions, lien payoffs, etc...
- Grand Island Abstract will record the Warranty Deed and appropriate
documents like the Deed of Trust at the Register of Deeds Office.
- Approximately thirty days after all documents are recorded and title
requirements are met, the Buyer and Lender will receive their Final Title
Insurance Policies.
Grand Island Abstract is happy to provide closing services to suit
your needs. Please inquire about other services
available.
Bonded Abstracter
Hal A Schager - Eileen F Harms
Member of Nebraska Land Title Association
Fax 308 382 7782
704 W 3rd Street | PO Box 627 | Telephone 308 382 4651
GRAND ISLAND, NEBRASKA 68802
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