Providing high quality real estate services in the City of Charlottesville and the surrounding counties of Albemarle, Fluvanna, Greene, Louisa, Nelson, Madison & Orange.
The settlement agent’s role ($200 - $550 and a part of closing costs) in closing your transaction involves researching the title and arranging for title insurance as well as the disbursement of funds to the seller, lender, and others involved in the transaction. So that there is no conflict of interest, the buyer and seller each have different settlement agents. The sellers will not be present at the time of your signing papers on closing day.
You will be given a choice in settlement agents, whether it is a title company or an attorney. A title company is not able to answer any legal questions and cannot interpret legal documents. If a question arises at the last minute, attorney assistance may be needed and you would end up paying for both the closing company AND an attorney. A title company runs about $250 and an attorney runs around $450. It is your choice which you would like to use.
If you or your co-signer will be unavailable the day of settlement, it is possible to assign power-of-attorney to another party, usually for a $50 fee. Settlement can also be taken care of through the mail, if power-of-attorney is not an option.
I will be allowed to give you the keys to your new home once the deed has been recorded by the settlement agent. The settlement agent is often able to record the deed if the closing takes place before 2:00pm, your lender has wired funds prior to this time, and the day is not a holiday. Unlike other types of settlement, the parties do not meet around a table to sign documents. It is not unusual to never meet the sellers of your new home.
Start shopping online! Email LindaWiller@remax.net for property listings in your price range