A smooth closing often starts well before closing day. In some cases, it can even start before a property goes under contract.
Once a title order is opened, your title team begins reviewing the property and public records for anything that may need attention before ownership can transfer. Most of this happens behind the scenes as part of the routine title process.
As an agent, you are not expected to research title issues or have all the answers. That is our job. But you often know your client and their situation better than anyone else involved in the transaction. If something unusual comes up during a listing conversation, sharing that information with your title team can help us start asking the right questions sooner.
Here are seven things we review and work through when title opens.
1. Who owns the property?
One of the first things the title team reviews is the property’s current ownership and how the owners are vested on title.
Sometimes it is as straightforward as expected. Other times, another person or entity may be involved in the property’s ownership. A spouse, former spouse, family member, trust, or business entity could affect what is needed to transfer title.
We will review the records and determine what's required. If your seller has mentioned an unusual ownership situation or tells you something has changed since they purchased the property, giving us a heads-up can provide helpful context as we complete our review.
2. Have there been changes that could affect ownership?
Life changes happen, and some of them can affect a real estate transaction. Marriage, divorce, the death of an owner, and name changes are a few examples.
Your title team will review the public record and identify any documentation or additional steps needed to clear title. Sometimes the information we need is readily available. Other situations take a little more time to work through.
If you already know about a circumstance that could affect ownership, tell us when we open title. You do not need to figure out how it impacts the transaction. We can take it from there.
3. Is a trust, LLC, or other entity involved?
Properties held in a trust, LLC, corporation or other entity may require additional documentation before closing.
Part of our job is determining who has the authority to act on behalf of that trust or entity and what documentation supports it.
If you know an entity is involved, letting us know early can help get that process started sooner. From there, the title and escrow teams can work with the appropriate parties to gather what is needed.
4. Are there loans, liens or other items that need to be addressed?
Existing mortgages are a normal part of real estate closings, and your escrow team will work to obtain the information needed to pay off applicable loans.
The title search may also uncover other recorded items that require attention. This could include liens, judgments, or even a previous loan that was paid off but was never properly released from the public record.
You are not expected to search for these items yourself. We are already looking for them. However, if your seller knows about an unusual payoff, lien, or other financial obligation connected to the property, sharing that information can help us get a head start.
5. Are there easements, access concerns, or other property issues?
A title search can reveal recorded easements, access rights, and other matters affecting a property. The title team reviews these items and, when applicable, identifies them in the preliminary title report.
What the public record cannot always tell us is what has been happening on the property itself.
Maybe the seller mentions a disagreement with a neighbor over a fence line. Maybe there is a shared driveway or an unusual access arrangement. You do not need to determine whether it is a title issue. If something sounds important, pass it along and let us help determine whether it needs additional attention.
6. Will there be any special signing considerations?
Your escrow team will coordinate the signing and closing process with the parties involved. Most of the time, the process is straightforward, but occasionally it takes a little extra planning.
A seller may live out of state, have travel planned around the closing date, or have another circumstance that could affect their availability.
If you know about those situations ahead of time, let your escrow team know. More time to plan can make the signing process easier for everyone involved.
You Don’t Have to Solve It. Just Bring Us In.
A lot of moving pieces make up a real estate transaction, and part of our role as your title and escrow team is to look for things that could affect closing.
You do not need to research liens, interpret vesting, determine signing authority, or know exactly what documentation a unique situation will require. We will help with that.
The most helpful thing you can do is keep us in the loop. If your seller mentions something unusual, or you’re not sure whether something matters, reach out. We would much rather take a look early than discover an issue when everyone is working towards a closing deadline.
Have a listing with an unusual circumstance? Reach out to your Venture Title & Escrow team. We are here to help you navigate the details and keep the transaction moving toward a smooth closing.