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Closing/Settlement

At Rick Davis Real Estate Title we provide closing and settlement services for all types of real estate transactions. As your closing agent, we will take and hold the initial escrow deposit in our company trust accounts, obtain payoff figures, prepare closing documents, record documents and disburse funds following closing. Additionally, in coordination with Rick Davis Real Estate Law, we can help provide documents for seller finance or private loan transactions and close and record the same to ensure protection for both the borrower and lender.

Although we can handle a wide range of settlement services, we focus on working with real estate investors. We are experienced in finding ways to close creative deals, including wholesale and redemption rights transactions. We can also work with you whether or not you are obtaining title insurance and can provide services for cash transactions.

We are uniquely positioned to meet the tight time frames needed by real estate investors, because we provide key services in-house to expedite the process. For example, we are generally able to obtain title searches within 2-3 business days. We can also close cash transactions without, mortgages to payoff or title insurance being issued, the same day.

We will work hard to obtain your business and be your go-to title company for your investment transactions. To learn more about working with us, please complete the contact form or give us a call at (913) 303-RICK.

What is Your Closing Process?

Step 1: Sign up for Guarded Pockets™

If you are not yet a member of Guarded Pockets™, the first step is to become a member. In addition to allowing us to help with your business planning, Guarded Pockets™ also provides many other benefits, including unlimited scheduled phone calls with a real estate attorney, registered agent and deed of trust trustee services, state compliance monitoring, daily REO and distressed MLS listing emails, and discounted title and real estate brokerage services. You can learn more about Guarded Pockets™ or sign up for a free trial by clicking on this link.

Step 2: Sign up for Services

Once you are a member of Guarded Pockets™, you can sign up for our services including our litigation and dispute resolution services.

Step 3: Intake Form

At this point, we will request that you complete our Litigation Intake Form.  This form will ask you questions that help us to evaluate the merits of your case and will provide you with an opportunity to upload documents that are relevant to the matter.  With this in mind, we request that you have all of the documents available prior to completing our intake form:

– The contract (including addenda and amendments)
– Any communications between you and the other party
– Any other relevant documents to the dispute

Step 4: Title Search

During this stage in the process, a title search will be conducted for your property so as to determine if there are any title issues. Once the search is completed, a title commitment will be issued that sets forth what needs to be done prior to closing and/or any potential title issues.

Step 5: Request Payoffs

Once the title search is complete and it is determined you are moving forward to closing, we will begin the process of obtaining payoffs for any liens or mortgages that made need to be satisfied as part of the sale.

Step 6: Closing Disclosure

If the buyer is obtaining a loan, the closing disclosure will need to be provided to the buyer at least three (3) business days prior to closing. The closing disclosure provides various terms of the loan for the borrower’s reference.

Step 7: Closing

At this point, all documents are prepared and we are ready to close your transaction. Prior to closing, the buyer will need to provide any funds necessary for closing to our office. The preferred method is a wire transfer as other methods of payment may delay closing while we wait for funds to clear.

The closing can take place in our office, or may happen remotely with documents being sent to the location of the buyer and/or seller. In most instances, the parties to do not sign the closing documents at the same time and the sale is not consummated until after all parties have signed and all closing conditions have been met.

Within one (1) business day of the documents being signed, we will record the relevant documents and release any funds to the seller in the manner elected at the time of closing.

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