Our Process

5 Stages

of a Closing at Legacy

1. Getting Started

Let us know you will be using Legacy for your title and settlement services, provide us with your contract documents and some basic information (feel free to use our Order Form). You can submit your information online or send an email to orders@legacyclosings.com to get started. We suggest providing as much information as possible during this stage. We can also hold your Earnest Money Deposit (“EMD”) using Legacy Pay. Once we receive your informaiton, we will begin our process of research and preparation!

2. Closing Preparation

Once our research is completed, we will provide you with a Commitment for Title Insurance and let you know what items we will need to insure the transaction and facilitate the closing. We will work with all parties involved to get everything needed so we can move toward a smooth closing. Be prepared for Legacy to ask for basic information like confirmation on the spelling of names, contact information, marital status, etc. If there is an entity involved we will also request documentation showing who has the right to sign on behalf of the entity (such as corporate resolutions, certificates of trusts, or letters of authority). If there are liens on the property, like a Seller’s mortgage, we will request items such as a signed payoff authorization so we can communicate with lien holders and order payoffs.

3. Clear to Close and Scheduling your Closing

Once we have collected everything in the last stage, we confirm that all other parties have all their closing requirements too. THEN, we will schedule your closing by selecting a time, date, and location for your signing to occur. Once that closing date is finalized, we prepare the closing documents and do all the math to balance your closing figures with all parties involved - based on our research and information provided to us. Documents will be provided to you for review prior to the closing via email, along with how much money a buyer will need to bring to the closing or how much a seller will receive as proceeds.

4. The Closing

At your Closing Appointment, our closer will meet with you to get all of our closing documents signed, such as the deed, mortgage, closing statements and tax documents. If Legacy is the disbursing agent, we will also collect all funds from the buyer and lender and then disburse funds to the seller or other parties owed money as part of the closing. Remember to always bring your social security number and state-issued photo ID to the closing along with anything else we requested. If the buyers and sellers elect to sign their documents in different locations or at different times, the closing is not completed until all documents from the buyer and seller are combined. Once all documents are signed by everyone and all funds for the closing are received - then you are officially CLOSED!

5. Post Closing

Even after the Closing Appointment, we still have some work to do! We receive the closing documents in our Headquarters so that the original documents can be sent to the appropriate parties and recorded with the correct government entities. We coordinate the payments of invoices listed on the statements and issue your final title policy. After the closing, the Buyer may need to file their Principal Residence Exemption and their Property Transfer Affidavit. The Seller may need to coordinate getting a final water bill and filing their Request to Rescind Principal Residence Exemption form. If the parties agreed to the seller occupying the property after closing, the Buyer and Seller will need to coordinate exchanging the keys and filling out a Direction for Disbursement so that the Occupancy Escrow and/or Security Deposit (if there was one) can be released to the correct parties.