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The Closing Process

Mississippi

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01 File Opening

After the title company receives the purchase agreement from the agent or borrower, our Closing Assistant will enter the purchase agreement information into the new file and email the buyer and seller additional forms to complete.

 

The Closing Assistant may contact you throughout the process of your file to assist your assigned Closing Specialist in collecting information needed for the closing.

 

The Closing Assistant is also the first point of contact who will provide title quote requests on all new orders.

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Jamie Finnan
Closing Assistant

02 Closing Specialist

When your file is opened, it will be assigned to a Closing Specialist. Your Closing Specialist will reach out to you when the file is assigned to introduce herself to you.

 

She will be the point of contact throughout the closing process and will regularly check in with you to keep you informed of the status of your file and to get additional information needed to complete the closing.

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Beth Ladner
Closing Specialist
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Nicole Davis 
Closing Specialist
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03 Title Search 

Once the lender provides the title order request, the closing assistant or closing specialist will contact the title abstractor to order a title search on your property.

 

The title search will show the last 32 years of recorded history on the property including all transfers of title and recorded liens. The abstract order typically takes 3-5 days to complete.

05 Balancing the CD and Clear to Close (with mortgage)

Once the title review is completed by the reviewing attorney, the Closing Specialist will work on finalizing any curative requirements by the attorney.

 

The next step in the process is receiving the clear to close by the lender. Or if it is a cash sale, the Closing Specialist can proceed to balancing the Settlement Statement.

 

Following the clear to close, the Closing Specialist will balance the CD with the lender which typically happens in one day.

04 Attorney Review

Once the abstract title report is returned, the title attorney can begin the title review process. A residential title review typically takes two days. A commercial property title review or a residential property with more extensive documentation to review can take more time.

 

The attorney will review through all transfers and liens on the property and prepare a title commitment to the lender outlining any curative requirements necessary to clear title prior to closing.

 

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Melissa Reso
Attorney
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Alexa Owens
Attorney

06 Scheduling Closing    and Closing Day

Once the Settlement Statement has been finalized and sent to all parties, the Closing Specialist will contact all parties to schedule your real estate closing. Your closing will be conducted by a Closing Notary Public or by one of our Closing Attorneys.

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07 Recording Documents and Issuing Title Policies

Once your file is closed, the Post Closing Specialist will e-record your deed and mortgage with the clerk of court's records portal for recording. Once your documents are recorded, the Post Closing Specialist will generate the lender and owner's title policy documents.

The Post Closing Specialist will then email the buyer the Recorded Deed, Recorded Mortgage and the issued Owner's Title Policy; email the seller the Recorded Deed; email the lender the Recorded Deed, Recorded Mortgage and the issued Lender's Policy.

08 Filing for Homestead Tax Exemption

You can only file for a Homestead Exemption on your primary residence which will exempt you from taxes on the first $75,000 of the sales price of your home. Once a copy of the Recorded Deed has been received, the buyer may file for Homestead Exception by bringing in the following documents to their local county tax assessor's office.

 

  • Recorded Deed

  • Car Tag Numbers for all Car Tags Owned by You

  • Social Security Numbers for all Owners

  • Sales Contract with Purchase Price of Home

  • If You Built the Home Yourself, Cost of Building the Home is Needed

  • If You Live in a Mobile Home, Bring Mobile Home Registration Certificate

  • If You are 65 Years or Older, Proof of Age is Needed (ID or Birth Certificate)

  • Disabled and Active Military May Qualify for Further Discounts.

 

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Betsy Belk
Hattiesburg & Brookhaven
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Angie Necaise
Ocean Springs, Biloxi & Diamondhead

09 Quality Review

Following the close of each of our files, we internally provide a Quality Review facilitated by our operations team to assure that all requirements were completed, documents were properly recorded, and policies were accurately issued.

 

As a part of our Quality Review process, you may also receive a Customer Survey following closing generated through Google Review Surveys or through our internal survey portal.

 

One of our Sales Team members may contact you following the close of your file to assure that everything went smoothly in your file and ask if there are any ways in which we can better serve you.

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