The Closing Process

Agent - settlement agent in Bristol, TN

What to Expect

Most clients like to know the process or "what to expect" as they proceed with their home buying transaction. The goal at Mumpower Title & Closing Services is to make every transaction run smoothly, we accomplish that by communicating with our clients, their lender(s) and their realtor(s).
We wanted to provide our clients with an IDEA of process of their home buying transaction with the disclaimer that EVERY transaction is different and has circumstances that impact the closing procedures:
If you have a cash closing here is the process normally

The Closing Process

Agent - settlement agent in Bristol, TN

What to Expect

Most clients like to know the process or "what to expect" as they proceed with their home buying transaction. The goal at Mumpower Title & Closing Services is to make every transaction run smoothly, we accomplish that by communicating with our clients, their lender(s) and their realtor(s).
We wanted to provide our clients with an IDEA of process of their home buying transaction with the disclaimer that EVERY transaction is different and has circumstances that impact the closing procedures:
If you have a cash closing here is the process normally

The Closing Process

Agent - settlement agent in Bristol, TN

What to Expect

Most clients like to know the process or "what to expect" as they proceed with their home buying transaction. The goal at Mumpower Title & Closing Services is to make every transaction run smoothly, we accomplish that by communicating with our clients, their lender(s) and their realtor(s).
We wanted to provide our clients with an IDEA of process of their home buying transaction with the disclaimer that EVERY transaction is different and has circumstances that impact the closing procedures:
If you have a cash closing here is the process normally
  • Buyer(s), seller(s) and realtor(s), if applicable, will execute a contract.
  • The Contract is submitted to title company by the buyer(s) or a realtor(s).
  • Title company completes title examination/reviews recorded documents.
  • If any title defects, the title company will attempt to remedy those defects.
  • Once the closing is ready to occur, title company will contact all parties to schedule the closing.
  • Title Company will prepare settlement statement (listed fees and disbursements) and send to all involved parties.
  • Title company will confirm with buyer about the funds required for closing
  • Buyer will wire funds to title company.
  • The closing will occur, title company will disburse funds to seller(s), realtor(s), lender(s) and record the real estate documents.
  • Title company will return the original deed and possibly the owners title policy to new owner (this step may take several weeks, depending on timing).
home available - housing closing in Bristol, TN
  • Buyer(s), seller(s) and realtor(s), if applicable, will execute a contract.
  • The Contract is submitted to title company by the buyer(s) or a realtor(s).
  • Title company completes title examination/reviews recorded documents.
  • If any title defects, the title company will attempt to remedy those defects.
  • Once the closing is ready to occur, title company will contact all parties to schedule the closing.
  • Title Company will prepare settlement statement (listed fees and disbursements) and send to all involved parties.
  • Title company will confirm with buyer about the funds required for closing
  • Buyer will wire funds to title company.
  • The closing will occur, title company will disburse funds to seller(s), realtor(s), lender(s) and record the real estate documents.
  • Title company will return the original deed and possibly the owners title policy to new owner (this step may take several weeks, depending on timing).
home available - housing closing in Bristol, TN
new owner - real estate settlement in Bristol, TN
If you have a lender or a loan, here is an idea of the closing process:

  • Buyer(s), seller(s) and realtor(s), if applicable, will execute a contract.
  • Contract is submitted to title company and the lender.
  • Lender then orders the title company to complete a title examination.
  • The title company completes the title examination/reviews the recorded documents.
  • If any title defects, the title company will attempt to remedy those defects.
  • The title company submits the title report to the lender.
  • Once the LENDER is ready to close, the title company, lender, or realtor(s) will contact all parties to schedule the closing.
  • After the lender submits their fees to the Title Company, the title company will prepare an ALTA settlement statement (listed fees and disbursements) and send to all involved parties.
new owner - real estate settlement in Bristol, TN
If you have a lender or a loan, here is an idea of the closing process:

  • Buyer(s), seller(s) and realtor(s), if applicable, will execute a contract.
  • Contract is submitted to title company and the lender.
  • Lender then orders the title company to complete a title examination.
  • The title company completes the title examination/reviews the recorded documents.
  • If any title defects, the title company will attempt to remedy those defects.
  • The title company submits the title report to the lender.
  • Once the LENDER is ready to close, the title company, lender, or realtor(s) will contact all parties to schedule the closing.
  • After the lender submits their fees to the Title Company, the title company will prepare an ALTA settlement statement (listed fees and disbursements) and send to all involved parties.
new owner - real estate settlement in Bristol, TN
If you have a lender or a loan, here is an idea of the closing process:

  • Buyer(s), seller(s) and realtor(s), if applicable, will execute a contract.
  • Contract is submitted to title company and the lender.
  • Lender then orders the title company to complete a title examination.
  • The title company completes the title examination/reviews the recorded documents.
  • If any title defects, the title company will attempt to remedy those defects.
  • The title company submits the title report to the lender.
  • Once the LENDER is ready to close, the title company, lender, or realtor(s) will contact all parties to schedule the closing.
  • After the lender submits their fees to the Title Company, the title company will prepare an ALTA settlement statement (listed fees and disbursements) and send to all involved parties.
  • Buyer will wire funds to the title company.
  • The closing will occur. The title company will disburse funds to seller(s), realtor(s), lender(s) and record the real estate documents.
  • Title company will return the original deed and possibly the owner's title policy to the new owner (this step may take several weeks, depending on timing).
  • Title company will return the original Deed of Trust to the lender along with the lender's policy (if applicable).
stone House - home closing in Bristol, TN
  • Buyer will wire funds to the title company.
  • The closing will occur. The title company will disburse funds to seller(s), realtor(s), lender(s) and record the real estate documents.
  • Title company will return the original deed and possibly the owner's title policy to the new owner (this step may take several weeks, depending on timing).
  • Title company will return the original Deed of Trust to the lender along with the lender's policy (if applicable).
stone House - home closing in Bristol, TN
  • Buyer will wire funds to the title company.
  • The closing will occur. The title company will disburse funds to seller(s), realtor(s), lender(s) and record the real estate documents.
  • Title company will return the original deed and possibly the owner's title policy to the new owner (this step may take several weeks, depending on timing).
  • Title company will return the original Deed of Trust to the lender along with the lender's policy (if applicable).
stone House - home closing in Bristol, TN