Before forming Hutton Patt Title & Escrow, Whet and Chris worked in various key real estate roles including real estate sales and lending. Their in-depth understanding of every aspect of a real estate closing reduces the risk of any problems arising in connection with your settlement.
Hutton Patt Title & Escrow takes care of the details once you‘ve entered into a contract so you can focus on settling into your new home or business. All you need to do is ask your real estate agent to provide us with a copy of your signed contract of sale. Hutton Patt will take it from there, keeping you and your agent informed along the way.
If you‘re ever feeling ‘unsettled’ during the settlement, just call the office and Chris or Whet will make themselves available to answer your questions. Before you know it, they‘ll contact you and your agent to schedule a convenient date and time for your closing.
Here‘s what to expect between the contract signing and settlement:
When Hutton Patt receives your signed contract, they:
- Review the Contract.
- Send a checklist to seller and buyer agents requesting HOA, payoff, commission and lender information. Once received, payoffs and HOA information is ordered..
- Deposit any earnest money or deposit check into an escrow account until released at closing. .
- Order the title abstract and survey (if required). .
- Arrange your tentative settlement date and time.
With the title report in hand, Hutton Patt:
- Requests loan data from the lender.
- Reviews the title and prepares a title commitment. .
- Researches and clear any title issues like judgments or unreleased Deeds of Trust..
- Checks the accuracy on the title commitment..
- Confirms the closing date and time with all parties.
To prepare for the final settlement, we:
- Verify all facts needed to prepare the HUD-1 (Settlement Statement). .
- Send a copy of the HUD-1 (Settlement Statement) to all parties involved in for review and approval.
- Forwards a copy of the approved HUD-1 (Settlement Statement) to the buyer and seller.
- Prepare the documents necessary to complete your transaction.
On settlement day Hutton Patt:
- Reviews the HUD-1 (Settlement Statement) with all of the parties to the transaction to ensure complete understanding and to confirm the accuracy of all the financial terms.
- Provides the sellers with the Deed to execute, which transfers the property to the new owners.
- Presents and explains all the documents necessary for settlement.
- Distributes all funds.
- Issues the lenders and owners title policies..
- Provide you with executed copies of all the documentation.
Post settlement, we:
- Review all of the documents, make copies for our records and send the originals back to the lender.
- Overnight or wire all payoffs.
- Send the original deed and deed of trust to the courthouse for recording.