Why Use a Title Company?

Nearly every loan transaction involving real estate requires that the person who is borrowing the money secure the loan with the real estate that is being purchased  or borrowed against.

In order for you to make that promise to your lender, (you lend me money, and if I don't pay you back, you have my property as collateral) you have to prove that you own, or that the seller owns, the property.

This is where a title company or title attorney comes in.  Called "clearing title," an attorney or abstractor goes to the local court house and searches the land records to establish ownership, or the "chain of title."  

As part of this search, any recorded lien (i.e. a recorded mortgage or deed of trust) or judgement (i.e. a recorded lien by a contractor, or "mechanics lien"; unpaid state or federal tax; or a court judgement against you by an unpaid creditor) is researched.  Foreclousre actions, or unpaid taxes will also show up in the search.

Liens such as the above are then paid off or cleared at closing; items not cleared are considered "clouds on title" and create an un-insurable loan, unless specific steps are taken to cure.  For example, an old deed of trust that was paid off but not released would be a cloud on title.  The solution would be to obtain the release from the payoff lender and have it recorded.   

The settlement, or loan closing, is where you sign off on all the documents required to secure the loan. We help you sign your loan package, and provide notary services as needed.

After the loan disburses into our escrow account, we make sure all the proper parties are paid, and wire to you any loan proceeds. For a refinance there is a three-day rescission period - three days for you to change your mind about having the loan before the funds are disbursed. Sales generally disburse the same day.

SMG, Inc. provides you with ...

• Title, escrow, and loan closing services complying with the laws of each state in MD, WV, PA, VA, NC and DC. In attorney states, we retain General Counsel to represent us before that states bar, communicating closely with them our business practices and how we are complying with any state requirements.
• Title commitments guaranteed within 5-8 days with our 3 day rush option.
• In-home or in-office mobile settlements, evenings and weekends with full notary services
• We will prepare and fax you a copy of the HUD the same day we receive your loan docs- Send the documents early, receive your HUD early!
• Obtain payoff information for outstanding mortgages on properties
• Meet all lender post-closing requirements
• Disbursement of all funds, with wire services utilized for payoffs of all mortgages and avalible to clients for receipt of their proceeds.
• TIMELY recording of all deeds of trusts, deeds, releases, with the county land records
• You always know exactly where your title stands-we confirm receipt of all orders, and send a commitment package in a timely fashion (which includes the actual commitment, tax information, legal description, ICL, mock HUD, and wire instructions).