Important Information to Give Your Title Agency

/ Closing, Deeds, For Sale By Owner / By

So you are looking to buy or maybe even sell some real estate and now you have begun working with a Title Company (EQUES Title, of course). Here are a few questions to answer so that you can give information that the agency needs to quickly complete the property transfer – accurately and successfully:

  • Are there any taxes owed or outstanding liens you are aware of?
    • For a property to be properly transferred the taxes must be paid up.
  • Have you or the other party already exchanged a portion of the funds for the property sale?
    • This is important so that both the Title Agency and the Lender can draft the correct closing documents. Otherwise, documents will have to be redrafted on the day of signing, and in some instances, this may hold the process up for days at a time.
  • What is the name of your lending institution?
    • Although the Title Agency will figure this information out, it is usually very helpful if you can give them this information so that they can reach out immediately to the lender.
  • Are you aware of any interest in the property outside of the Seller?
    • It is important to know if the Seller is the only person on the Deed, or if another party is required to sign off on the property transfer.
  • How do you want the proceeds from the sale distributed?
    • If there are multiple Sellers, it is good to let the Title Agency know this information at the beginning to keep the processing of the transfer on track. 
  • Are there any dates the Buyer or Seller will be out on vacation, for work, etc., that could hinder potential closing dates?
    • This information allows for a clear expectation of when closings can and will occur and increases the ease of scheduling.

Last Thing, always feel free to “overshare” any information related to the property with the Title Agency employee; 

1) At EQUES Title, we genuinely enjoy getting to know our clients – speaking with you and closing with you are our two favorite things

2) There are so many different pieces of information that are relevant to closing, and because each closing is unique, it is always helpful for us to have as much background as possible. We have a listening ear.