The Real Estate Settlement or Closing Process

The Settlement or Closing Process is the final stage of a Real Estate Sales Transaction, the culmination of the efforts of many parties, and the largest financial transaction most people will ever experience.

After receipt of a fully ratified Contract for Sale, Cardinal Settlement Services will follow these basic steps to finalize your deal:

1.  Contact             Buyer, seller, and real estate agents to coordinate a closing date
2. Research           Title history to identify liens, restrictions, and easements
3. Underwrite        Examine title notes, identify  issues for ‘title cure’, prepare Title Commitments
4. Validate             Gather valid payoff statements, HOA information, inspection reports/fees
5. Prepare              Transfer documents and loan papers, affidavits, and tax reporting documents
6. Complete           HUD-1 Settlement Statement and distribute for pre-closing review
7. Close!                Meet with buyer and/or seller to execute closing documents
8. Record               File properly executed closing documents in the courthouse
9. Disburse            Commissions, fees, payoffs, and proceeds
10. Follow-up          Prepare and deliver Title Policies, recorded documents, and confirm release of prior liens

Cardinal Settlement Services has always been an independent title agent – where you are our only master.  Many  settlement companies are financially connected to banks, attorneys, or real estate brokerages, with demands of various kinds which may run counter to your own real estate closing interests. You could be referred to one of these companies for reasons that offer you no benefit whatsoever, where your deal is considered ‘captured business.’

You should insist on choosing your own closing agent – it is your legal right – and we believe Cardinal Settlement Services is your best choice because:

• All the title agents in our office have over 30 years’ experience – not combined experience – thirty or more years each.
• We answer to no other master. If you need special accommodation of any kind you need only ask. We can do your real estate closing in our office or yours, with flexible appointment times.
• We examine title and resolve title issues in this office with our own staff. We do title examination first so that we can discover problems faster and make your closing experience smooth and timely.
• Our costs remain competitive and we will furnish you a written quote in the form of a preliminary Settlement Statement upon request. Without an experienced independent closing representative you could pay $100s of dollars of unnecessary fees because your business is ‘captured’
• Pricing structures and service packages will continue to change as consumer needs dictate, but our focus on the customer will remain fixed and firm!