Fairfax, Virginia (webnewswire) October 11, 2018 – Mathis Title Company, a Fairfax title company, recently published a blog post explaining the steps new homeowners should expect when closing for their new home. Title closing in Northern Virginia can be a tricky process for some new homeowners, and it is important to know how to navigate that process.
Title companies exist to make the closing process on a home easier. They ensure that the title to a piece of real estate, such as a new home, is legitimate. The company also provides title insurance, which protects the lender and owner against lawsuits and other claims resulting from disputes over the title. Many title companies can maintain escrow accounts, which contain the money necessary to close on the home, to verify that it will be used only for those costs. Title companies can also conduct the final closing.
There are several steps to the title closing process. After a seller accepts an offer, the buyer will typically deposit between 1% and 3% of of the sale price of the home — which will go towards closing costs — to the title company, showing that they are serious about buying the house. Next, a home inspection will take place to help the buyer identify any major issues with the house. A mortgage lender will also order a home appraisal to ensure that the buyer is paying a fair price. The buyer can then secure financing for the house and verify that the title is clear before officially buying the home. Closing costs, which cover expenses like settlement fees, lender fees, and title insurance, are finally paid, and the house is sold.
Speak with a Northern Virginia title company for more information about the title closing process. Mathis Title Company provides a variety of services, including settlements, title insurance, contract preparation and review, builder services, and refinancing. The company’s founder, Robin Mathis, personally performs each closing to ensure that her clients receive individualized attention and answers to all of their questions. The company can be contacted at 703-214-4020 or online at https://www.mathistitle.com. Mathis Title Company is headquartered at 11325 Random Hills Road, Suite 160, Fairfax, VA 22030.