Completing the Transaction
Send your lawyer a copy of the signed Purchase
Contract.
Your
lawyer will:
Search
the title to make sure it is free of complications.
Make sure the property taxes are up to date.
Ensure that a current Real Property Report
and compliance certificate is obtained from
the seller.
Prepare all the documents to transfer ownership
to you.
Ensure that the seller's mortgage is discharged.
Prepare a Statement of adjustments showing
the money you owe. Arrange for the transfer
of money from your lender to the seller.
Ensure you are registered as the owner in
the Land Titles Office.
Title Insurance Glossary
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How To Select a Title Company
Some
states require that an attorney conduct
the closing. Some escrow agents, and
others a title company or agent. Be sure
to find out how it's done in your area.
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