Imagine if there were no settlement agents or attorneys who handled closings. You decide to buy a home.
Your lender hands you a pile of paper and tells you to sign everything, and they hand you a suitcase full of money – hundreds of thousands of dollars. YOU have to figure out how much cash to give each realtor, how much to give to the seller’s lender to pay off their mortgage, how much to give the home inspector, the termite inspector, water/septic tester, the attorney who generated the deed, how much money to give BACK to the lender to hold in escrow so they can pay your property taxes and home insurance. Speaking of taxes – you have to figure out how much you owe and how much the seller owes. Did the seller have any liens against the property? Guess you have to figure out how to do a title search and find out. If there were liens, you have to pay those off as well before giving the seller his proceeds. Oh, and since you’re now an expert at searching titles, you might as well make certain the seller is indeed the only owner of this property. If he’s not, you may be paying the wrong person and somebody else can come along and claim they own a portion or all of the property you just bought.
Now, aren’t you glad there are settlement agents and attorneys who figure out all of this before you even come to the closing table? What I find amazing is that most borrowers don’t even consider who closes their loan. They care who their real estate agent is. They care about which lender they use. When it comes to the question of where to close the loan, they shrug and go with whomever their real estate agent or lender suggests. This is an important decision. There is a lot of responsibility resting on the shoulders of the settlement agent and the settlement company. Mistakes are costly and time consuming. We at Blue Ink Original have a system of checks and balances in place that insure that we do things right the first time. We do what we say we will do when we say we will do it. Choosing Blue Ink Original to close your loan may be the smartest decision you make regarding your home purchase.