From contract to closing
Where a title company fits in
In a private sale, buyers and sellers manage the negotiations and many of the tasks a realtor would normally coordinate. A title company focuses on title examination, escrow and settlement, working with the parties and their lender to help complete the transfer of ownership.
Discuss your transaction with Goldcrest before setting a closing date. The work required depends on the property, financing, contract and any issues found during the title review.
Title & settlement work
- Research and examine the property's title and identify recorded liens or ownership issues.
- Prepare the title insurance commitment and coordinate its requirements.
- Review tax information and request mortgage, lien and association payoff information.
- Coordinate any needed municipal lien, open-permit and code-violation searches.
- Coordinate with the buyer's lender and other parties involved in closing.
- Arrange settlement documents and a closing statement showing the transaction's charges and credits.
- Handle signing, escrow disbursements and payment of required payoffs under the closing instructions.
- Arrange recording of the deed and mortgage and issuance of applicable title insurance policies.
Buyer & seller responsibilities
- Agree on the sales price, contract terms, deadlines and any credits or adjustments.
- Obtain appropriate advice, complete the purchase contract and arrange signatures.
- Arrange property inspections and negotiate any repairs directly with the other party.
- Keep the loan application moving and supply the lender's required information.
- Resolve open permits, code violations and other property issues with the appropriate professionals.
- Stay in communication with each other about issues outside the title and settlement process.
Title fees explained
These are common fee categories, not a price list. Your written quote will identify the charges applicable to your closing.
- Settlement
- The charge for coordinating and conducting the closing.
- Title search / abstract
- Research of recorded documents to establish ownership and identify title issues.
- Title insurance
- A one-time premium for an owner's or lender's policy, subject to the policy's coverage and exclusions.
- Document preparation
- Preparation of the documents needed for the particular transaction.
- Seller's documents
- Documents required to transfer ownership, such as the deed and applicable affidavits.
- Attorney services
- Separate legal services, if needed; ask about the scope and fees before engaging an attorney.
- Municipal lien search
- Checks for municipal liens, open permits and code violations.
- Courier and shipping
- Delivery costs for documents or payments that need physical handling.
- Wire charges
- Charges associated with transferring closing funds electronically.
- Archive / scanning
- Any applicable charge for maintaining the closing records.
Contracts & disclosures
Ask your Florida real estate attorney about the current purchase contract and any condominium rider or homeowners' association disclosure your sale requires. Forms and requirements can change; use current documents appropriate to your transaction.
This is general information, not legal advice. Confirm the services and documents needed for your closing with the professionals handling it.
Request a quote →