Escrow & Document Preparation
Let us prepare your documents for closing! Our professional Minnesota Title Company and Agents are experienced in working with lenders and preparing the necessary documents needed to close transactions.
Cash closings and contract for deed documents can be expertly prepared by our staff for both buyers and sellers.
- Reviewing the title commitment
- Insuring the closing is conducted in accordance with the lenders requirements
- Preparing the HUD settlement statement
- Disbursing all proceeds to appropriate parties to insure all existing liens are properly released
- Recording the documents
- Conducting all necessary closing follow-ups
What is Escrow?
Escrow is when a third party, separate from the buyers and sellers holds funds and disperses them accordingly to the correct recipient. The money is dispersed after a certain event or transaction has taken place. This ensures that the work is completed in a timely manner, correctly paid for, and helps to smooth out transactions.
What is a Deed?
A deed is a legal document that transfers the title of a property from one individual to another. This document helps to protect the interest of the buyers and sellers of a property. A deed helps to guarantee a reliable and fair agreement.
What is a Contract For Deed?
A contract for deed is when the seller, rather than a lending institution finances the purchase of the home for the buyer. After the deed is signed, the buyer has legal possession of the property until the buyer repays the loan in full, usually through monthly installments, at which time the buyer will receive the deed to the property. This type of transaction can help encourage the sale of a home when the buyer cannot secure financing through a bank. At Klun Law Firm we can review the contract and explain any pending questions, making the transaction simpler.
What is a Lien?
A lien allows a creditor or bank to sell a mortgaged or collateral property in order to recoup losses when an individual fails to meet the loan specifications or payments. A lien can be voluntarily placed through the signing of a mortgage/loan or by the government if taxes are left unpaid.