Settlement Process
Before the Settlement:
Once our office has received your sales contract, we start the following process:
1.Contact the lender and exchange all necessary information regarding your loan. 2.Order the title search on the property. 3.Order property survey for home or town house. (Condos do not require a survey) 4.Contact seller’s lending institution and order a payoff on the current mortgage. Seller should have a termite inspection done. Seller should also fill out the Seller information sheet found under the FORMS section to order the payoff information. Out of state bank needs more than one week to receive the pay off information so it is pertinent that seller provides this information as soon as possible. 5.Contact the Homeowner’s Association to verify that the fees are current and determine the proration split between parties. 6.Contact the taxing authority for the county or city in which the property is located to verify amount due and payable and determine proration split between parties. 7.Prepare title insurance commitment (binder) and forward to buyer's lender. 8.A) Any tax liens, bankruptcy proceedings or court judgments should be revealed to the settlement company by sellers to allow us to help you with your potential sale. Because these are matters of public record, they will be exposed and could halt a transaction unless handled in a straight-forward fashion. 9.A) A week before settlement, the buyer should arrange to have all utilities changed to their name as of the date of settlement. Call the local electric, gas, television cable, telephone, Internet and water/sewer authorities. B) The seller should arrange for any final billings and meter readings for utilities and indicate they will no longer be responsible for bills after the closing date. 10.The sellers must bring all keys, garage door openers, security codes for alarms, warranties for appliances and home repair paperwork to settlement. Buyers and sellers should bring photo identification to the settlement. 11.Obtain loan-closing package from lender to start preparing necessary documents for the settlement.
At Settlement:
A real estate settlement is a critical part of the buying and/or selling process. It involves various different tasks and procedures that need to be carefully reviewed, coordinated and understood. Loudoun Title is a full service real estate settlement firm. We can close either on site, at home or at our office. We can close virtually any type of real estate loan, including:

A licensed title agent conducts your settlement. We will review and notarize all documents necessary to complete the sale. Some examples of these documents are: 1.Hud-1 Settlement Statement. This document will show all the details regarding the charges and credits for both the buyer and seller. 2.Deed of Trust. This document is filed at the courthouse and establishes a lien on the property for the lender. 3.Promissory Note. This document is your agreement with the lender to pay back the loan. You will also review and sign documents such as: property location survey, termite report, and other documents that your lender has provided Once all parties have signed the required documents, you will be on your way to moving into your new home!!
After Settlement:: After you have completed your settlement, our office is required to do the following: 1.Record all necessary documents in the land records. 2.Disburse all proceeds; payoffs; taxes; commissions and other fees as shown on the Hud-1. 3.Forward closing package to lender. 4.Once our office obtains the recorded documents, we will then prepare the Lender’s Title Policy and Owner’s Title Policy. We will forward to you, the Owner’s Policy and the Deed to your new property. 5.Obtain and record the release from the sellers’ payoff company. The process for a refinance follows closely to that of a sale with the absence of the seller involvement and pro-rations.
At Loudoun Title, our experienced staff is there to make sure your transaction runs smoothly. We welcome any questions or concerns that you may have. We are committed to excellent service!!

!! Our goal is your 100% satisfaction. !!


Open Hours

Monday - Friday :
9:00AM - 6:00PM

Closed on Saturday and Sunday