Escrow and Settlement Services for Home Sellers

Selling a home is more complicated than it seems. On the day of closing, your settlement company needs to efficiently and safely transfer large sums of money from buyer and lender to seller and service providers. Realtors and home sellers trust Safe Harbor Title Company to coordinate and execute smooth and successful closings. Here’s why you should choose Safe Harbor Title.

1. We’re a trusted escrow provider.

Safe Harbor’s experienced escrow officers ensure smooth and secure processing of even the most complex transactions. We execute a third-party, three-way reconciliation of every escrow agreement, every month.

2. We’re always accessible.

When questions arise during the course of a closing, you can count on Safe Harbor to respond quickly and help resolve the issue.

3. We take security seriously.

Anytime large sums of money change hands, fraudsters pay attention. Fortunately, so do we. Safe Harbor Title operates under strict security policies to keep your information — and your money — safe.

7 Steps for Seller Settlements

Purchase Agreement is executed and sent to Safe Harbor Title

• We will contact You, welcoming you to Safe Harbor Title, and your real estate agent, if applicable.
• We also contact the Settlement Agent for the Purchaser to let them know we will be working on your behalf.
• We will send you our Seller Questionnaire via email through our secure portal. Please complete this as soon as possible as the information we receive will help us process your settlement quickly and efficiently!

Information Collection

• Title Commitment from the Purchaser Settlement Agent.
• HOA Financial statement, if applicable.
• Payoff information for any existing mortgage liens.
• Payoff/release information for any collections or judgments of record.
  • Additional documents we will collect, if applicable are:
  • A Recorded or Probated copy of the Will (Estate Sales).
  • Original Power of Attorney.
  • opy of entire Trust if Property is held in a Trust.

What we do with this information

The amounts to be paid at closing will be conveyed to the Purchaser’s Settlement Agent to be added to the CD/Settlement Statement.

We will also send the Purchaser’s Settlement Agent our fees, Real Estate Agent’s commissions and any other fees that may need to appear on the CD/Settlement Statement to be paid at closing.

The Seller’s Settlement Package

The documents included are as follows:

• Verification of Identity
• Deed of Bargain & Sale (prepared by William K. Lewis, Esq.)
• Owner’s Affidavits
• 1099 Forms
• Specific Power of Attorney
• Seller Proceeds form.
• Lien Release forms
• Gramm-Leach-Bliley Act forms
• Certificate of Compliance

Additional documents may be requested to fulfill specific requirements for the Purchaser’s Settlement Agent.

The Seller’s Settlement Package is “In Escrow”

• The documents will be held “in escrow” by the Purchaser’s Settlement Agent until the Final CD/Settlement Statement is prepared.

The CD/Settlement Statement is ready for review!

• The Purchaser’s Settlement Agent will send us the Final CD/Settlement Statement.
• We will send it to You and your real estate agent, if applicable, for review and approval
• Upon your approval, we will notify the Purchaser’s Settlement Agent that they are authorized to close.

Closing Occurs – Responsibilities of the Purchaser’s Settlement Agent

• Will have collected all funds required for closing
• Will then have the Purchaser(s) execute all buyer-side closing documents and affidavits.
• Will record all required documents with the locality in which the property lies
• Will then disburse all funds, including Seller’s Proceeds.
  • Disbursement of funds cannot occur until the documents have been recorded.
  • Disbursement of funds must occur within 48 hours of recordation.