Whether you are a first-time buyer or an experienced homeowner, buying a new home can be an exciting, but sometimes overwhelming process. Having professionals with the right expertise helps simplify the process making it more enjoyable and less time consuming.
Realtors are essential partners when buying or selling a home. Realtors are professionals whose expertise provides you with useful information that is not easily accessible to the public. Their experience with the home buying process, market conditions, and negotiations can make the difference in locating and securing a contract on the perfect home.
Once you have an executed purchase agreement, have your lender or Realtor contact Crescent Title immediately to begin the title process on your future home. Our abstractor will begin researching the title history in the courthouse to verify ownership and real estate taxes, obtain mortgage payouts, uncover any title deficiencies or encumbrances such as liens, judgments, which may be disclosed on the title report. Every title search is examined by one of our experienced attorneys to ensure the proper procedures are followed. Our skilled and experienced staff will utilize our established procedures to work with buyers, sellers, realtors, and lenders, to complete the closing process. You will be advised of the funds necessary to close. The law mandates that these funds be certified; in the form of a cashier’s check or bank wire.
After we confirm a clear title and receive approval to close from your lender, we will schedule a convenient time for all parties to meet at one of our offices to sign the appropriate documents. Closings at Crescent Title are conducted before one of our experienced attorneys or notaries who can answer questions, like “when is my first payment due,” “how do I apply for my homestead exemption,” “can my loan payments be automatically drafted from my bank account,” and walk you through the required documents. We understand that buying or selling a home is a very important transaction. We work to provide a friendly and comfortable atmosphere.
After the closing, we immediately record the documents with parish clerk’s office and follow up with recorded information to purchasers and lenders.
The Patriot Act requires that we collect a photocopy of your valid government issued picture I.D. such as a Driver’s License, Passport, or Military I.D. Additionally, if you are bringing money to the closing, these funds will need to be “certified funds.” Certified funds can come in the form of a cashier’s check, teller’s check, money order, or certified personal check. Cash is only acceptable in small amounts. Please call our office in advance if you intend to bring cash to the settlement. Your lender will require that the purchaser bring proof of homeowner’s insurance. Your lender may also require a current Wood Destroying Insect or Termite Report. You may also be required to bring additional documents which our office will inform you of in advance.
While the time of a settlement can vary greatly, typically a refinance will take about 30 minutes and a purchase will take about 45 minutes.
If purchasing, you should contact Crescent Title as soon as you have a signed contract. By contacting us as early as possible, you allow us adequate time to obtain a title abstract on the property being purchased and clear any outstanding “clouds” on title prior to your contracted settlement date. Additionally, we can better coordinate the settlement with all parties involved including the sellers, purchasers, real estate professionals, and lenders. If refinancing, you should contact us after you submit your loan application. Do not wait for final loan approval, as the time between your loan approval and settlement is often only a few days. By scheduling with us early, you allow us time to obtain the title abstract and clear any issues with your title, obtain payoffs from your current lender, and coordinate closing with your new lender.
At a “purchase settlement,” typically the sellers, purchasers, and their real estate professionals will attend the closing, which will be conducted by one of our competent and experienced attorneys or settlement officers. At a refinance settlement usually only the borrowers and our attorney or settlement officer are present.
In certain circumstances, a power-of-attorney can be prepared for you. A power-of-attorney is a legal instrument which allows another to sign legal documents on your behalf. Please give us a call to discuss this if you will not be able to attend.
Because we rely on third parties such as lenders to provide us with instructions, information, and figures for your settlement, we often cannot furnish to you the exact amount you need to bring to closing until the day before, or, sometimes, even the day of settlement. However, you should be able to rely on your lender’s or your realtor’s good faith estimate for the approximate amount of money you need to bring with you. If you happen to bring too much money to settlement, we refund back to you any excess amount upon completion of the closing. Obtaining your insurance early will assist the lender in determining escrows which can speed up the ability to provide an accurate settlement figure.
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