Town Title has closing services available that are intended to simplify and improve your law practice.
We have a settlement department comprised of full-time real estate attorneys and paralegals. As a result, you can focus on the needs of your client, minimize your own expenses and leave the closing preparation to us. Many attorneys are enjoying these great benefits by allowing us to handle part of your real estate-related workload. We will coordinate the closing, handle the finances and address post-closing settlement matters, such as trust account balancing.
Town Title offers full closing services to attorneys, whether they place their client’s title order with Town or not. As the buyer’s attorney, you will maintain control of the file and contact your clients. In addition to the traditional services associated with loan and closing settlements, Town’s closing services include: Satisfaction of Title Requirements; review of the title binder and obtaining the payoff statements of the seller’s mortgage(s); working with the seller’s attorney to omit other Schedule B, Section 1 requirements; preparing and filing the Notices of Settlement; and ordering the rundown.
Prior to the closing, Town will act as the “settlement agent” and issue the Closing Protection Letter to Town; receive and review the lender’s closing package; and prepare the closing package for closing. Town Title will prepare the HUD-1, obtain Bank approval, and provide copies of the HUD-1 to the closing attorneys in advance of the closing for review and client approval.
Town will also accept the loan proceeds into its trust account and confirm its receipt.
The closing will take place at a mutually agreed upon location, which is typically at the buyer’s attorney’s office. Experienced real estate attorneys or paralegals will appear at the closing as Town Title’s agents and go through the documentation with the buyers, answering any questions. Town Title trust checks or wire will be issued at closing to those in attendance, including the buyer’s attorney, seller’s attorney, filing fees realtors commissions, and seller’s net proceeds. As the Buyer’s attorney, you can either sit in on the closing or attend to other tasks.
Town Title will also be responsible for post-closing matters such as making all post-closing disbursements, working to obtain mortgage discharges and the issuance of title policies. After the closing, a copy of the entire closing package will be made available to the attorney and the buyers. When policies are issued, the closing attorney and his/her client will receive copies together with copies of Town’s transmittal letters to the Bank and the client.
In summary, TOWN TITLE IS THE MOST THOROUGH CLOSING SUPPORT TEAM IN THE INDUSTRY! In today’s competitive market, having the right title company can make all the difference for your practice. And Town Title Agency counts the most prominent law firms in New Jersey as clients because our service is second to none. If you want to develop a reputation for excellence in your real estate practice, then you need to demand excellence from your title company. For over 20 years, we have delivered excellence to our attorney clients, and as a result have we have insured some of the largest transactions ever recorded in the State of New Jersey.
Whether it be a refinance, purchase, or sale, our team of attorneys and paralegals will efficiently handle your real estate transaction from start to finish. We urge you to contact us to inquire about Town Title’s title and settlement services for your next transaction. We are confident that you will wish that you had done it sooner.