What makes Valley Title and Closing Services different from other title companies?
In a closing, title to real estate is transferred by deed. All necessary documents are prepared and disbursement of money is made for the purchase or finance of real estate and related costs. The settlement agent causes the deed or deed of trust to be recorded in the public record.
Once our office receives the purchase contract, we will contact you to schedule a time and location for the closing.
For your convenience, Valley Title and Closing Services provides two locations: . Please visit our contact page for detailed directions to our offices.
Offsite Closings: For the convenience of our clients, we can accommodate our clients with off-site closings such as your real estate agent’s office, bank or attorney’s office.
A typical closing requires the following from the buyer(s):
Funding: We require the buyer(s) to wire funds needed or bring a Cashier’s Check payable to Valley Title and Closing Services to our office at the time of closing. Your closing agent will provide you with wiring instructions. We cannot accept cash or a personal check for closing costs.
Identification: At closing the buyer(s) will be asked to supply a picture identification that includes their signature.
The seller(s) will be responsible for the following items:
Mortgage Payoff Information: The seller(s) must provide Valley Title and Closing Services with the names, phone numbers and loan amounts for all current mortgage holders. It is important that we receive this information in a timely manner as it can take up to seven business days to obtain a payoff.
Identification: At closing the seller(s) will be asked to supply a picture identification that includes their signature.
Social Security Numbers: At closing, the seller(s) will be asked to supply their social security numbers or Tax Identification Numbers.
Confirmation of martial status: In accordance with Alabama State Law, a spouse’s signature may still be required even if the property was purchased prior to marriage.
Cashier’s Check: If the seller(s) is required to bring funds to closing, a cashier’s check made payable to Valley Title and Closing Services or a wire transfer of funds will be required.
In some circumstances not everyone involved in a transaction can attend the closing. If this case should arise, the closing agent must be notified at least three days prior to closing. The absent individual is required to execute a “Specific Power of Attorney” which appoints someone to legally sign on their behalf in their absence.
Visit the Home Closing 101 website for more in depth explanations concerning the closing process and its associated fees. Here you will also find plenty of information about the benefits of title insurance and get tips on shopping for your title insurance needs.
Title insurance is for defending against any lawsuit against your insured title and will either clear up the title problems or pay the insured's loss. An owner's title insurance policy protects you for as long as you or your heirs retain the property.
The premium for Lender’s Coverage is based on the amount financed or borrowed in connection with the purchase of the property. Rates for each underwriter are filed with the state.
Your closing agent can provide you with an exact cost of Owner’s coverage. A discounted rate is available when owner’s coverage is purchased at the same time as the loan policy.