Buying, selling or refinancing a home is a stressful and important financial transaction for any individual or family. You need to secure the professional services of a title company to efficiently and accurately handle this complex transaction. This “peace of mind” will allow you to move forward with confidence that your transaction has been completed accurately and correctly.

Nexus Title and Escrow, LLC will do an Abstract of Title, which means searching the real estate records in the county, state or city where that particular piece of property is located. An abstract will (1) determine the legal owner of the property; (2) reveal any mortgages, liens, judgments, or unpaid taxes that will have to be satisfied before the property is conveyed; and (3) detail any existing easements, restrictions, or leases that affect the property.

After the abstract is completed, Nexus Title and Escrow, LLC will issue a Title Insurance Policy on the property, it will prepare Commitment of Title Insurance to the lender and/or the prospective buyer. The title opinion letter and the title insurance commitment will each set forth all things that need to be completed and any problems that need to be corrected before the purchaser can receive Good Title. Nexus Title and Escrow, LLC will complete all the necessary documents and will undertake to correct any problems. Once these things are done the parties are ready to exchange paperwork and close the deal.

The purpose of the closing is to sign and exchange all the documents necessary to convey title, secure the lender, and deal with collateral issues such as leases, rights-of-way, etc., and to explain in an orderly manner the costs to each party. This is done by preparing a closing statement or what is referred to in the industry as a Closing Disclosure/ALTA. The closing statement will include the mortgage lenders charges, charges for preparing documents, the title Companys fees, recording costs, and the amount of the payoffs to release any existing mortgages, pro-ration of city and county taxes, real estate commission fees, survey fees, and any other costs associated with the deal.

At closing, Nexus Title and Escrow, LLC will collect the purchase money funds from the buyer and lender as well as the settlement costs from each party. With these funds, we will then pay all of the expenses of the transaction, pay off any existing mortgages, and pay the seller the net proceeds of sale. All of this is done in accordance with the settlement statement.