Settlement Process

1. We open your file by contacting the city or county offices where the property is located. We conduct a full property search in the local record, going back 60 years for a new purchase, to learn everything about the property's history.

2. Next, we examine the title to verify that all outstanding liens are satisfied. An investigation of the property survey determines if the house is built on the correct lot or if there are encroachments on border properties. A careful review of the title at this stage is imperative to determine the status of the title.

3. A title commitment is prepared for the lender which ensures their protection against a title claim. An owner's title insurance policy protects you from any fraud or hidden risk undetectable during the title search.

4. The mortgage documents are released to Cross Country Settlements with a list of lender fees and charges including insurance and escrow accounts.

5. The HUD-1 settlement sheet is prepared based on the figures provided by the lender.

6. Closing day is the most anticipated step of the settlement process! Rest assured that the hour you spend with Cross Country Settlements will proceed smoothly and comfortably. An experienced settlement officer will be at the settlement table with you to handle any unforeseen problems as quickly as possible.

7. After closing, our work continues on your behalf. A staff member disburses the mortgage package within 24 to 48 hours making sure everyone from the seller to the termite inspector is paid. The package is returned to the mortgage company and the deed and the mortgage are recorded.

8. In the final step, we record the release of the seller's mortgage and write the owner and lender's title policies. This step concludes 10 to 12 hours of researching the title, preparing for closing, and guaranteeing that every document is signed, sealed and delivered in an efficient and timely manner.