The N Title Closing Process

N Title’s Closing Process

As a home buying consumer, it can be quite a daunting task to go through a new construction home purchase. Choosing the lot, the floor plan, fixtures, paint colors, textures, flooring, and then stepping aside to see the work get completed can be stressful and exciting all at the same time. Add to that the process of applying for and being approved for a mortgage loan and going to the closing table at the title company not knowing what to expect can add even more anxiety and stress to the situation.

However, buying a Chesmar home and closing with their sister companies, CLM Mortgage and N Title, makes acquiring a loan and closing the transaction much easier because all parties work together as a team to achieve a pleasant home buying experience for the consumer. Since I’m a Senior Escrow Officer with N Title, I’d like to focus on the client experience with our company.

Once the contract is received by N Title and the order opened, we strive to keep clients informed of the closing process along the way to their purchase of what is most likely their dream home. We communicate by email and phone and we also include the buyer’s realtor as well. N Title has a fantastic internal method of making sure all milestones -opening the order, producing the title commitment, scheduling the closing, and providing a final checklist and dollar amount for closing costs-are completed and line up in advance of the final closing date. I know this system greatly eases the minds of our home buying clients because at the closing table I most often check in with them again to make sure they had been receiving our emails and phone calls and to help them remember we were available every step of the way to answer any questions or concerns they may have had.

But, the best part of the closing process is the actual closing itself. I love it! It’s exciting for me, a seasoned title professional, to help a family achieve their dream of owning a new home. Our N Title team strives to be ready well ahead of the scheduled closing time by having all Chesmar seller documents signed and all buyer documents in order and ready for signatures. In addition, CLM Mortgage has put in place an e-signing system that allows home buyers the opportunity to review and even sign a portion of their closing documents before even arriving at our office!

Then, arriving at our office, the closing begins after being greeted by friendly smiling faces and everyone getting settled around the conference table. It is important to remember that married people ALWAYS must be at closing as they will both need to sign closing documents and a valid photo I.D {such as a drivers’ license) must be produced and photocopied for the closing file. Deep breaths are drawn, smiles and chit chat exchanged, then the signing begins.

N Title employs title professionals with years of closing experience -which goes a long way in helping clients feel comfortable at closing. Ask the question, get the answer! We’re knowledgeable and know how to convey even complicated real estate terms in an easygoing manner that everyone can understand. As the closer or title officer presents each document for signing, we’ll give a brief description of the document and its place in the closing process. For instance, the Note has its own prominence at closing because it is the document signed by the buyer wherein the buyer pledges to repay the loan. The Deed of Trust, likewise, has its own place in the closing process because it’s the document that’s filed of record that encumbers the property with the mortgage.

Questions will usually arise about tax homestead exemptions or appraisals, as well as possible property tax increases that may occur once the appraisal district is aware that the property is no longer a vacant lot but is fully improved with a new home. At this stage in the closing, I like to remind the buyers that we are available well after the closing and after they’ve moved into their home for questions about how taxes were prorated or what they can expect to receive from the appraisal district office.
One of my favorite things to go over with clients is the Survey-I enjoy envisioning the home and its placement on the lot, the size of the lot, the patio (with or without a fireplace!) the front entry and the backyard. I will point out how the surveyor will show the grade of the property with black arrows so they will know how rainwater will run off so that their foundation won’t sit in a puddle.

And, finally, we’re finished. All documents are signed, copies are ready to be made, and we’ve had a few minutes to get to know one another and to hopefully have a few laughs during closing. One last item of business is the Chesmar Customer Survey. We all eagerly anticipate the results of this survey and it’s an item I explain by letting the client know that this is their time to let all of us know how the process worked FOR THEM. I let them know they can add any comments they wish and that anything they write makes us do a better job and that we -as a team -appreciate their time in completing this. And that’s it. Once funding is approved by the Lender, keys are released, and the moving vans start rolling! I’m thrilled every day that my job is enjoyable and fun and a necessary part of the home buying process. Stop in and see us in Richardson! We’d love to meet you.

 

Written By: Ann Clayton 

Photo by ©Terry Halsey