Since opening on April 1, 1991, we’ve gained 23 years worth of ideas and suggestions to help make your closing experience as pleasant, smooth, and efficient as possible.  Your circumstances may not allow you to follow all ten of these suggestions, but see how many you can meet.  We promise they will make the process go more smoothly.

1. Call us soon after contract ratification, so we can get started on your title work.  Even if contract contingencies have not been met, financing contingency has not been met, let us get started early.  If the transaction falls through, we won’t charge for the title work.

2. Communicate changes to your contract to both your settlement agent and your lender as soon as they are made.

3. Use a local lender.  We find that last minute issues/questions/problems can be resolved much more easily if we’re dealing with local loan officers, who have direct ties to our Charlottesville community.

4. If you are buying a pre-owned home, you may have walk-through issues.  Be flexible.  Don’t jeopardize your move-in date over a minor issue.  For more major issues, a credit at closing from the seller is better than an escrow.

5. When buying distressed properties (short sale/foreclosure/bank owned), never use the seller’s settlement agent or attorney.

6. Use a local settlement agent or attorney for your closing.  As with #3 above, local settlement entities are familiar with local customs and procedures, and are in a better position to make the entire process go smoothly.

7. Make sure your realtor uses your names on the contract exactly as you wish to take title.  Use the same names when you apply for your loan and instruct your settlement agent to use the same names for the deed.

8. Try to avoid Friday closings.  Often they are unavoidable, and we will make them work, but they can pose problems.

9. When possible, avoid closing on the day you are moving.  Again, it is often unavoidable.

10. Although we still accept cashiers’ checks from banks located within the 5th Federal Reserve District, we are moving toward accepting only wired funds.  Call us for wiring instructions.

Good luck with your purchase, and if there’s anything we can do to help, please contact us.

Please Note: Articles written by CST employees are the opinions of licensed title insurance agents and are based on experience as such.  They are not to be taken as legal advice.