SOLD!! What Happens Next? Now that you have decided to buy or sell your home, what happens between now and the time it becomes legally owned by you or another party? What Closing & Title Services, Inc. Can Do! Earnest Money - An agreement to convey starts the process once it is received at the title company. Loan application is made by the buyer and approval is usually subject to a credit check, and appraisal and sometimes, a survey of the property. Tax Check - What taxes are owed on the property? The various assessor-collectors are contracted by Closing & Title Services, Inc. Title Search - Copies of documents are gathered from various public records: deeds, deeds of trust, various assessments and matters of probate, heirship and divorce and bankruptcy are addressed. Examination - Verification of the legal owner and debts owed. Document Preparation - Appropriate forms are prepared for conveyance and settlement. Settlement - An Escrow Officer oversees the closing of the transaction: seller signs deed, buyer signs new mortgage, old loan is paid off and the new loan established. Seller, real estate agents, attorneys, surveyors, title company and others performing services for the parties are paid. Title insurance policies will then be issued to you and your lender. In some cases some of these functions are performed by attorneys, escrow companies, title companies, and their agents. Once purchased, title insurance remains in effect for as long as you own your home. It adds security of ownership and peace of mind to the homeowner and lender.