Escrow and Closing Services to Fit All Types of Alabama Real Estate Transaction
Real estate transactions have the ability to transform lives, but they rarely proceed without any headaches along the way. From multi-parcel commercial deals, vacant land, to local family homes, the buying and selling process requires a strict adherence to deadlines and the deposit of significant funds— with the potential for delays and cancellation at each step in the process.
River Region Title Services gives our real estate clients the benefit of a variety of title services. Our escrow and closing services may be combined with title insurance and title examination, or we can work with your existing providers to create a customized service that works for you. Contact us today to learn more about our escrow and closing services.
Our Escrow Services for Commercial and Residential Clients
After the buyer and seller agree to the transfer of real estate, the buyer usually has to deposit earnest money to hold the sale until closing. Generally, this money is not held by either party, but in a special fund called an escrow account. The funds held in escrow are either used in the final settlement of the transaction or closing or refunded to the appropriate party if the sale falls through. Our title agents have the ability to create escrow accounts, review and record all deposits, and protect your funds until closing.
River Region Title Services can be your escrow agent as well as your title company. As your escrow and closing agent, we will:
- Provide a timely and stress-free path to closing. We can order loan payoffs from an existing lender, order an assumption package for loans that will be assumed, work with the buyer’s mortgage company, insure that taxes are paid, collect invoices for appraisals, inspections, and repairs so that these bills may be settled at closing, request deeds and other documents necessary for closing, and coordinate the date and time of closing with all parties.
- Ensure your transaction is in accordance with Alabama law. We ensure that requests for release of escrow deposits, escrow disagreements, and any other matters that can delay or affect the sale are handled according to Alabama law.
- Disburse funds at closing. We stay in contact with all parties and ensure all responsibilities have been completed before any funds are exchanged.
Let Our Alabama Title Team Guide You Through Closing
Mistakes made during closing can be extremely costly for both buyers and sellers. As such, all parties must be diligent in their examinations of documents before signing. As your closing agent, River Region Title Services can close real estate transactions in our office, at a mutually agreed-upon location, perform mail away closings or remote ink closing to make it as easy as possible for all parties to close the transaction.
Our closing services include:
- Open communication. We stay in contact with clients, their agents, lenders, and developers to facilitate the transaction and ensure that everyone stays on track for closing. If we discover incomplete, outdated, or incorrect information on any documents, we notify the appropriate party and ensure the information has been updated prior to closing.
- Examining closing documents. When we act as your closing agent, we go over each detail of the mortgage, deed, property description, survey and title policy to protect your interests with the same dedicated customer service we bring to all of our transactions.
- Evaluation of closing costs. All costs and fees must be settled on closing day, including property taxes, title insurance, attorney fees, real estate agent fees, filing and processing fees, loan origination fees, private mortgage insurance (PMI), and the loan down payment. We prepare your final settlement statement to ensure that all charges, credits, and calculations are correct before the parties pay and escrow funds are released.
- Recording and filing closing documents. We record the transfer documents in the public records of the appropriate county.
- Examination of title insurance policy. If you haven’t chosen us as your title agent, we’ll confirm receipt of title order and work with your agent to ensure that your title policy is issued.
No matter where you are in the buying or selling process, our title agents can assist you and ensure you reach the closing date without any unwelcome surprises. Please call the number on this page, or fill out our easy online form to contact the title team at River Region Title Services today to learn more about our closing services.