What is a HUD-1 Settlement Statement?
A HUD-1 is the closing form used in settlements. It includes an itemized list of all applicable closing costs and specifies the extent to which each party is responsible for those costs. If you are a buyer and are getting a loan to purchase residential property, your lender must provide you with a Good Faith Estimate of your loan costs and information explaining the settlement process.
How does Nodaway County Abstract & Title Company conduct their research?
When the contract is received and the order is placed to request preliminary title work, your order goes to the research plant where the chain of title is examined. The information compiled in research is typed into a title commitment which is sent to your closer, real estate agent, lender, attorney, or others as you instruct.
The title commitment is reviewed again by the closing agent and compared with the contract and loan closing instructions to assure that all information is consistent. The closer makes note of any requirements which must be satisfied prior to closing.
What does Nodaway County Abstract & Title Company do?
We issue title insurance and help expedite the real estate transaction process.