First, after receiving the "order" for the examination of title, preparation of the conveyancing papers, and anything else needed to close the transaction, Signature Settlements, L.L.C. will have the title search conducted and order the house location survey, if requested. In addition, we will send written request for payoff or assumption information on any outstanding liens secured by the property. After obtaining all the necessary title information, the data is reduced to typewritten documents, a summary of title referred to as the Title Insurance Binder or Commitment. These documents are forwarded to the lender along with, if requested, a copy of the house location survey. Next, Signature Settlements, L.L.C. will coordinate efforts with that lender, prepare any other necessary documents, and finally prepare the settlement statement.

     The day before or the day of the scheduled settlement, the buyer should contact the firm to determine what amount of money is needed for the completion of settlement. This generally cannot be done sooner because the figures needed in order to compute the final settlement costs are not received from the lender until shortly before the scheduled settlement. As required by your sales contract and, in order to disburse funds in a timely manner, your funds must always be in the form of a certified or cashier's check.

     In most cases, the lender will require the buyer to purchase a hazard or homeowner's insurance policy and prepay one year's premium. In addition, the lender may require the purchase of flood insurance if the property is located within a flood zone. Typically, the lender needs the policies and paid receipts in their possession three to five days in advance of the date of closing; however, some lenders will permit you to bring the policies and receipts to the settlement.

During Settlement:

      While at settlement the buyer(s) will be presented with various documents for their signature. These may include items such as a deed of trust, note, truth-in-lending statement, and settlement statement. In addition, the lender most likely will require many other documents to be signed. All documents are understood by Signature Settlements, L.L.C. and will be fully explained to the buyer. The seller will also be required to sign the settlement statement as well as the deed and other documents necessary to complete the settlement.

     All monetary adjustments and prorations between buyer and seller will appear on the settlement statement. If any disputes between the parties should arise at settlement, Signature Settlements, L.L.C. will provide a forum for those parties to resolve their differences. We want everyone to leave the settlement satisfied with the transaction and with a smile on their face.

After Settlement:

      When a buyer and seller leave the settlement table, their part is finished; however, Signature Settlements, L.L.C.'s job continues. We must do all or most of the following: (a) completely audit the disbursement sheet and review all documents involved; (b) assemble and return the lender's package per the lender's written instructions; (c) record deed, deed of trust or assumption documents in the county's land records; (d) disburse all funds to appropriate parties; (e) issue the title insurance policy; and, (f) if required, after paying off the appropriate lenders, obtain, or prepare and record all releases.