Our Processes
What to Expect When You’re Expecting…
to Settle with Castle Title
The process of buying or selling a property can vary from transaction to transaction, but below is a general overview of the process and what is necessary from each party to ensure a smooth settlement.
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Order
- Agents, lenders, or the buyers/sellers themselves may request that an order be created.
- A contract should be provided at the time the request is made. All contact information for the parties should be provided as well.
- Upon opening the file, Castle Title will send letters to the agents or the owner (if the property is for sale by owner (FSBO) to gather additional information necessary for the process.
- We will order an abstract of the title and a lien certificate, should the property be in a jurisdiction that requires it.
Processing
- Abstract: Our highly skilled title reviewers will carefully examine the abstract to determine if there are any items, such as liens or judgments, which need to be addressed in order to provide the buyer with clear title and a title insurance policy on the property.
- Lien Certificate: The City of Baltimore, as well as various counties within Maryland, require a certificate detailing any items owed to them, such as taxes, utility bills, environmental citations or other fees to be obtained. A deed transferring ownership cannot be recorded without a current lien certificate. (Please note: For properties within the City of Baltimore, sometimes the City experiences delays in providing these certificates to us. This is outside of our control, but we can’t settle the transaction without it. Your patience is greatly appreciated!)
- Payoffs: If you are currently making payments on the property, your escrow processor will work with you to obtain a payoff from your lender that will be deducted from your proceeds at closing.
- Entity Documents: If you are buying or selling in the name of an entity, we will need the appropriate corporate documents to move forward with the transaction.
- Foreign Nationals: If you are selling a property and are not a US Citizen or legal permanent resident, please notify your escrow processor as additional IRS / FIRPTA requirements may need to be met. Click here for more information regarding FIRPTA.
Settlement
- We offer many options to facilitate the signing of your documents. You may come to our office for settlement. If that is not feasible for you, we can arrange for either a mobile or an online notary (additional fees apply).
- Any funds required must be in the form of a wire or certified check. Wiring instructions will be provided upon request.
Post Closing
- Once all funds have been received and the documents have been reviewed for proper signature, we will disburse payment for any fees such as real estate commissions, utilities, insurance, etc. and any proceeds due to buyer or seller. If you desire your proceeds to be wired, please alert us during the processing phase and provide your wiring instructions.
- Any documents that are to be recorded will be sent to the appropriate jurisdiction. Please note that properties within the City of Baltimore may take several months to be placed on record. Be assured that the ownership has been transferred. If you need to obtain building permits during this time, please let us know and we can provide the necessary documentation.
- Once any deed and/or mortgage have been recorded and returned to us, they will be mailed to the new owner and/or lender along with a final title insurance policy.
Castle Title
Our Underwriters
Let's Work Together
Let us know how we can help make your real estate transaction a done deal!