There are many reasons for buying or selling a home without the assistance of a real estate agent, but one service provider you can’t complete a “for sale by owner” transaction without is the title agency. Using a title agency not only ensures that your closing goes smoothly, it also safeguards your transaction.
What does Covenant Closing & Title Services do?
Covenant's job is to make sure the closing happens. To do this, Covenant will make sure all the paperwork is in order, conduct a title search and order the reports and surveys needed to transfer property ownership.
Two of the biggest contributions of Covenant are the title search and providing title insurance.
A title search is a public records examination of the property’s title. This research determines that the property is clear of liens and is eligible for sale. The very last thing you want to do is buy a house and then find out there are liens against it, or worse, a co-owner didn’t sign off on the sale! A title search will uncover issues like these so they can be resolved before the closing.
Title insurance is required by most mortgage lenders. This insurance protects the lender (and a separate policy protects the buyer) from unforeseen defects in the title. These problems usually don’t show up in the title search, which is why this extra protection is needed. A title insurance policy means the title company will help you defend you from claims against the title. It’s a one-time fee, paid at closing and never again.
Other Services from Covenant Closing & Title Services include:
• Closing Facilitation: Covenant can host and facilitate the closing on neutral ground. As an impartial service provider, Covenant does not work “for” the buyer over the seller, or vice versa. Covenant just wants the sale to happen, and it’s our job to make sure it does. Covenant does this by collecting all of the documentation needed from both sides, making sure it’s all filled out properly and signed. Having a second set of eyes to look over everything is especially helpful in a for- sale-by-owner transaction.
• Paperwork Filing: Covenant files the closing paperwork with the appropriate government agencies and makes sure the buyer, seller and mortgage lenders all get copies of the closing documents.
• Escrow and Notary Services: Covenant can also act as the escrow agent, hold earnest money and disburse funds. We also provide notary services for document completion.
The important thing to remember is that Covenant Closing & Title Services is there to help you with your for-sale-by-owner transaction when you might not have any other real estate professionals assisting you and looking over the contract to make sure everything is in order.
For Sale By Owner Checklist
Here is a checklist of some of the things you will need to know in order to put together an agreement. Once you have a signed agreement we can proceed.
1. Who will be paying Escrow and Title Fees?
2. Will the Seller be paying any closing costs in favor of the Buyer?
3. Is the earnest money deposit check made out to Covenant Closing & Title Services? (note: a cashier’s check is best and cash will not be accepted)
4. Will there be a new mortgage? Who is the Lender? Loan Officer? Contact Info?
5. Is there an existing mortgage on the property? Who holds it? Loan number?
6. Sellers Name and Social Security Number?
7. Is there a Home Warranty being purchased? By whom?
8. Who will be insuring the home for the Buyer?
9. Are there any Home Inspections? Which ones and at who’s expense?
10. Is there a HOA (Home Owners Association)? If yes, what is the name of the association and what are the payment terms?
11. Is there an SID (special assessment district) or LID (limited improvement district)?
Use the above checklist to create your agreement – 
Once you have a signed agreement, we can open escrow. Thank you for choosing Covenant Closing & Title Services for your Escrow and Title Insurance needs. We are looking forward to a successful closing with you. Please don’t hesitate to contact us with any questions.