Closing & title

Every DispoKey sale finishes at a title company or closing attorney, depending on the state. The title company searches public records for liens, unpaid taxes and ownership problems, issues title insurance, holds the money in escrow and pays everyone the correct amounts on closing day.

Before closing you will see a settlement statement that lists the price, any payoffs, prorated taxes and who pays each cost. Read it line by line and ask questions about anything you do not recognize. Problems such as an old lien, a missing heir or a judgment usually add time, not cancel the sale, once they are found and cleared.

This topic links to our step-by-step process page, our directory of investor-friendly title companies and the glossary, so you can look up words like escrow, deed, payoff statement and assignment as they come up. Use it whether you are selling, buying or closing a joint venture deal.

Typical closing documents include the deed, a settlement or closing disclosure statement, payoff letters from lenders, affidavits about liens and occupancy, and identification for each signer. Remote online notarization or mobile signing may be available depending on the state and the title company, which helps owners who live far from the property.

Create a closing checklist with separate columns for the requested item, responsible person and current status. Useful entries include an outstanding payoff request, a missing signature, the agreed possession arrangement and the next appointment. Ask the closing office which items remain unresolved instead of assuming that a scheduled date means every requirement has been satisfied. Keep versions organized by date so obsolete figures are not confused with current instructions.

When reviewing the settlement figures, distinguish the purchase price from the amount distributed to you. Check the names, property address and payment information against your transaction records. If an amount differs from an earlier estimate, ask what changed and request a corrected explanation before signing. A verbal reassurance is not a substitute for understanding the document in front of you.

Coordinate the practical handover separately from the paperwork. Confirm the written arrangement for keys, personal belongings, tenant communication and utility changes with the appropriate parties. For a joint venture, the wholesaler maintains the seller relationship; DispoKey explains title questions and helps the wholesaler communicate with the closing office rather than contacting the seller to clear issues. For wiring safety, independently verify the closing office’s instructions using a trusted contact method, not a number supplied in an unexpected email.