TITLE & ESCROW

The closing of the real estate transaction is the final stage of the real estate purchase during which the Deed and the purchase money are exchanged. The role of the settlement company is to coordinate all parties for the settlement day. Once the contract is received, a title abstract of the property will be conducted to ensure a clean and marketable chain of title. A survey of the property, if applicable, will also be ordered and reviewed by the title company for ultimate receipt by the purchaser. Any payoffs or liens, including homeowner’s and/or condo associations, will be ordered and statements will be received and reflected on the HUD-1 Settlement Statement.

The HUD-1 Settlement Statement is a federal document that must reflect all monies that change hands. Signed by both the buyer and the seller, this document is important to keep handy for tax purposes, obtaining mailbox keys when necessary and obtaining HOA/Condo passes and permits.

On the day of settlement, all parties gather at the conference table for signing of title documents, including the new Deed transferring title to the purchaser. The new Note and Deed of Trust, along with all necessary lender documents, will be signed by the purchaser. All monies are received at the time of the closing. After all documents have been finalized, the keys are exchanged and the title company records the new Deed and Deed of Trust within twenty-four to forty-eight business hours of the final transaction. Immediately upon recordation, all monies are disbursed, ie, payoff liens, seller’s proceeds, realtor’s commissions, etc. Release of all liens from the county land records are typically cleared within six months of the final transaction by the payoff lien holders.

Hazelwood Title & Escrow, Inc. is committed to providing homebuyers and sellers, real estate agents, and lenders in the Northern Virginia area with the utmost in reliable and personalized service. We offer a full-range of settlement services to meet our clients various needs.

Hazelwood Title recognizes the importance of each real estate transaction, and pledges to handle your settlement in a timely and professional manner. Their staff has been selected from the best in the business. Only those individuals who truly believe that this business is based on great service come to work for Hazelwood Title and combined bring over forty years of experience.

Hazelwood Title underwrites through two of the major title insurers in the industry. Their guidelines and vast experience give us the ability to handle any issue that may arise. Whether your transaction is new construction, residential resale, commercial or refinancing, look to Hazelwood Title to provide the expertise you need for your real estate transactions in Virginia and the District of Columbia. They are conveniently located in the following areas: