Overview
Overview
You may make an appointment for real estate services by calling our office at 515-232-2501 or 515-232-2950. Or, email jbw@hglawia.com
FOR SALE BY OWNER
-
For Sale By Owner Assistance; flat fee of $1,500.00
-
We work with you through the whole process from initial listing to closing. No need for a realtor.
-
We provide you all the documents you will need: Purchase Agreement; Legally Required Disclosure Documents; and all Seller’s Closing Documents
-
We will coordinate the updating of your property abstract
-
We will answer all questions as they arise and review the closing settlement statement to ensure you are not paying for any fees that you should not
-
OTHER SERVICES
-
Settlement/Closing Fee: $405.00 (add’l $100 for 2nd mortgage)
-
Title Opinion: $180 for residential; hourly for commercial
-
Deed Preparation: $75.00 to $250.00 depending on requirements
-
Courier: $30.00/each Fed Ex package
-
Title Guaranty: $175 if purchase price below $750,000
All fees are current as of September 2023, subject to change.
PROCEDURE FOR OBTAINING A TITLE GUARANTY
-
Abstract is continued by abstractor. An abstract is actually a book that contains the title history of a parcel of property from the time it was platted.
-
Attorney reviews updated abstract and issues Preliminary Title Opinion
-
Closing takes place and the new mortgage is recorded. (at closing all prior mortgages are paid off along with any other liens that would prevent the new mortgage from being a first lien against the real estate)
-
Abstract returns to abstractor where it will be held until releases (or subordination agreements, if applicable) for any and all liens have been filed with the county making the new mortgage a valid first lien. The abstractor will than do a final updating of the abstract.
-
Abstract is returned to the attorney where it is reviewed to assure that the new mortgage holds a first and paramount lien against the real estate. If this is the case a Final Title Certificate is issued by the attorney.
-
An application for Title Guaranty, the Preliminary Title Opinion, the Final Title Certificate, a previously collected premium check, pages from the appraisal and a notarized Composite Mortgage Affidavit are sent to Iowa Title Guaranty, who will ultimately issue the Title Guaranty Policy.
-
The Title Guaranty policy is sent to our office, a copy is made, and the original document is forwarded on to the Lender.
Please note that the length of the entire process varies with each transaction and depends on a number of factors including, but not limited to:
• number of releases to be filed
• rate at which the previous lender files the release(s)
• time the abstractor needs to complete final abstracting
• time needed for the attorney to complete the final opinion
• time it takes Title Guaranty to process the application and issue
• the policy (4-6 weeks on average)
Typically this process takes between eight and twelve months from the date of closing to complete. However if problems arise, such as improperly released mortgages, unrecorded assignments, or any other situations that prevent the title work from being properly completed (i.e., showing new lender as first lien holder), additional time will be necessary to contact the appropriate parties and have corrective measures filed with the county recorder and shown in the abstract.