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Since 1967, we are a trusted, neutral party that facilitates and executes the purchase or sale of a residential property. Our role is integral to the overall success of property ownership and our team jumps into action once the property goes under contract.
Our seasoned, experienced and locally-based team will oversee and handle critical aspects of your transaction ranging from title research and insurance, to maintaining escrow accounts, dispersing funds and, ultimately, finalizing the purchase or sale of a property.
Real estate transactions can be complicated but our approach is simple: we focus on trust, relationships and results.
Title insurance is a form of insurance that covers claims of interest against a property that may arise after a real estate closing. Read more about title insurance here.
The first step! A sales contract is signed by the buyer and seller and delivered to the closing agent, usually with a deposit check. The escrow is accepted typically at a title company given the safety, security and neutrality offered. Next, a title order is opened and this involves researching the chain of title, and collecting tax information, loan payoffs, homeowner/maintenance fees, inspections/reports, hazard and other insurances, as well as legal papers.
Records searched include public records, deeds, mortgages, paving assessments, liens and other documents affecting title to the property. A critical step, this is when verification of the legal owner is made and the debts owed against the property are determined. Upon completion, a title commitment/ preliminary report is prepared, reviewed and sent out to interested parties.
The closing agent, in conjunction with the title company, will now review the new lender’s instructions and requirements, key instructions from other parties to the transaction, real estate and loan documents, charges. The title agency will prepare all closing statements and schedule the closing.
Almost there! The closing is overseen by the title company and entails that the seller, the buyer, real estate agents, and sometimes attorneys are present to sign critical documents. In some instances, the closing can be conducted electronically via our e-signature platform or RON (see the RON article in our Blog).
Among other documents, the seller signs the deed and closing affidavit and the buyer signs the new note and mortgage.
After the signing has been completed, the title company will follow the terms of the contract and the lender instructions to disburse all funds. The transaction documents are recorded in the county in which the property is located. Title insurance policies are prepared and sent to the new lender and to the buyer.
Wire fraud and scams are on the rise. According to the FBI, Americans lost nearly $150 million to real estate scams in 2019. Land Title takes this threat very seriously and has precautions in place to help protect and secure every transaction. Read more here.
In 2020, Colorado became the 26th state to sign Remote Online Notarization (RON) legislation into law. The law reshapes how notarial acts can be executed in the state, allowing the use of technology to complete a notarial act when the signer is not in the same location as the notary public. While certain industries, including real estate, were moving toward digital-first solutions.
Notarization is an essential fraud-deterrent process that ensures the authenticity of signers and documents by utilizing a system of vetting, certifying, and record-keeping. With RON, signers and notaries are able to get documents signed and notarized without the need for a physical meeting. Through live video chat on a secure technology platform, the notary will verify signer identities using authentication ID technology. Key documents are signed and stamped digitally, and the process is recorded using a secure audio video platform. The notary’s journal of remote online notarizations is also 100% digital.