Buying or selling a home comes with plenty of questions, especially as closing day gets closer. Whether it’s your first transaction or your tenth, knowing what to expect can make the process feel a lot less overwhelming. Here are answers to some of the questions we hear most often at Authority Title & Escrow.
What does a title company actually do?
A title company reviews the property’s ownership history and looks for issues that could affect the transfer of ownership, such as liens or errors in recorded documents. We also coordinate with the agents, lender, and other parties involved, prepare closing documents, handle funds, and submit documents for recording.
Much of our work happens before you arrive to sign. Our goal is to catch questions early and keep everyone informed as we work toward closing.
Why do I need title insurance?
Even with a thorough title search, certain covered issues may surface after closing. Title insurance provides protection against those risks. A lender’s policy protects the lender’s interest in the property, while an owner’s policy protects the buyer’s interest.
If you have questions about your policy or the cost, ask your closing team to walk through the details with you.
How much money do I need to bring to closing?
Your final amount due will appear on your closing disclosure or settlement statement. Review it before closing so you have time to ask about anything you weren’t expecting.
If you’re wiring funds, call your title company using a trusted phone number to verify the instructions before sending money. Be especially cautious of any last-minute changes sent by email.
What does “clear to close” mean?
“Clear to close” generally means your lender has approved the loan to move forward to closing. That’s great news! But it doesn’t always mean you’re ready to walk in and sign. Your lender may still need to send final closing instructions and documents to the title company, and your closing team needs time to review and prepare everything for your appointment. Once you’ve signed, the transaction must also be completed and funded.
When do I get my keys?
Keys are typically released once the closing is complete and the transaction has funded. The timing can vary based on your contract and the details of the sale. Before scheduling movers or deliveries, check with your agent about when you’ll have possession.
What could delay my closing?
Common delays include outstanding lender requirements, title issues, missing documents, contract changes, or funds that haven’t arrived. Every transaction has its own moving parts, and some issues take longer than others to resolve.
One of the best things you can do is respond promptly when your lender, agent, or title company asks for information. Buyers should also speak with their lender before making a major purchase, opening new credit, or changing jobs before closing.
What if I have a question that feels obvious?
Ask it! Closing involves a lot of documents and unfamiliar terms. You deserve to understand what you’re signing, what you’re paying, and what happens next.
At Authority Title & Escrow, we’re here to answer your questions and help you feel prepared for closing day. When you’re ready for your next chapter, close with Authority.
