Normally, the seller is providing title insurance for the buyer. If you have not done so already, your closing agent will bring or fax copies of the contract to the title agent or attorney. For a cash sale, the title work is usually ordered just after the contract is negotiated. If this sale is contingent on financing, then usually the title work will be held up, pending credit report, inspections, and appraisal steps being satisfied. Your agent will normally keep in touch with the title company or attorney and advise them of the buyer’s loan progress. The title agent or attorney also handles all the arrangements with your mortgage holder(s), regarding the final payoffs. You don’t need to do anything.
8. Survey:
After the loan is approved, or earlier at the discretion of the loan officer, the survey is ordered by the buyer, their agent, or their lender. This usually does not occur until the last 10 days of the process. It usually takes place on the morning of the closing. It is not necessary for you to be home for the survey, because they do not need to come into your home. The only evidence of the survey having been done is the classic wood stakes with red or orange ribbon at the corners of your property.
9. Pest Inspection:
The “termite” inspection is an inspection of all wood-destroying organisms, including but not limited to dry wood and subterranean termites, wood-boring beetles, carpenter ants, and wood rot caused by wet rot or by fungi.
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