Title and Real Estate Services
Why Choose Minnesota Abstract & Title Company?
We hire only the most knowledgeable people in the business to ensure we provide you with an experienced, well-trained staff of professionals who will uncover, resolve and protect your customer from all real and/or potential title defects – defects that could interfere with the sale of the property. Remember, the wrong title insurance could not only cost your customer an arm and a leg, it could cost them their house and cost you the clients’ trust and repeat business.
We go out of our way to earn your trust every step of the way with the best service possible. With the most advanced technology, the finest closing facilities and a staff that is continually measured on their ability to exceed our customers’ expectations. We do everything we can to make sure things go smoothly – answering all your questions and addressing any of your concerns.
Our staff of professionals understands how busy you are. Your calls will be returned promptly by people who can answer your questions and facilitate a smooth closing for you and your client.
Today's competitive market requires more than experience. We believe we are an extension of you and that requires dedication to you, our customer and a commitment to excellence.
Open the Door to a better closing.
Buying or selling a home should be a happy event. Instead of worrying about paperwork, you should be thinking about making your new house a home. Trust the experts at Minnesota Abstract & Title Company to help you with every step of the closing process.
The Closing Process
Sometimes referred to as a settlement, a closing is the process of completing a real estate transaction. This includes:
- Signing and/or delivery of deeds, mortgages, leases and other required documents
- Accounting between the parties and disbursement of money
- Recording those documents with the proper County agencies.
- Payment of outstanding liens
Overview of the Closing Process
Your real estate agent or loan officer will call us to schedule a closing and will send us a copy of your purchase agreement and title order which we then check for accuracy and completeness.
- We request preliminary title work from our productions department which includes a search and examination of the title to ensure that there are no defects or adverse claims of ownership against the title.
- Once we receive the title commitment, we check the information for accuracy and completeness and note any requirements that must be satisfied. We then forward a copy of the title commitment to your loan officer and/or your real estate agent.
- If your contract calls for a prior mortgage to be paid off, we will order payoff figures from the existing lender.
- If the buyer is assuming the loan, we will order an assumption package that shows the current status of the loan.
- We notify the appropriate parties of any issues or discrepancies so that they can be corrected.
- As closing day approaches, we order any updated information that might be required. Once we are satisfied that your paperwork is in order, we confirm the date, time and location of the closing with all the parties involved.
- Once the preliminary work is complete, we make sure that all the information on the contract, loan closing documents and title commitment have been check for accuracy and that they are in compliance with state, federal and lending regulations as spelled out in your lender’s instructions.
- We prepare the HUD-1 Settlement Statement. This document shows all costs including those paid at closing and any pre-paid costs, such as earnest money deposits.
- It’s closing day and it is time to sit down with you and sign the documents to allow for the transfer of ownership.
- Now the rest is up to you, as the new homeowner! Congratulations!
When you’ve made your purchasing decision and are ready to close on your new property, refer to our handy Closing Checklist to make sure you’ve got everything you need.