Home Closings Taking Less Time

The speed of technology has enabled the transaction time necessary for a home to be purchased to be greatly reduced. The home purchase process has cut weeks off of the closing time in many cases. Digital platforms are playing a greater role in this acceleration of this complicated process. Technology is enabling buyers to get mortgages quicker and sellers to close on properties even faster.

According to a recent report published this year,on average the closing time for a typical U.S. homebuyer has fallen by 11 days in 2019.

The increased speed in closing on a property has accelerated the overall ability of real estate agents and loan officers to increase the number of transactions per month.

As long as inventories remain historically low, the demand for speed has becomes a premium value for anyone involved in the real estate industry.

A big part of the speed at which deals close is attributed to the quality and knowledge of the title agent. A title agency plays a critical role in the ability of the home seller and home buyer to quickly bring together all the parts that are necessary to close a property transaction. The title agent is responsible for identifying and making sure that the property owner possesses a clean title on the specific property they are seeking to sell.

At Counsellors Title Agency, one customized service is its Attorney Settlement Assistance Program, also known as ASAP. The Attorney Settlement Assistance Program was created specifically to help real estate attorneys process much of the secretarial paperwork involved in a real estate sale. ASAP includes such services as:
Documentation Preparation
Disbursement of Funds
Attendance at Closing
HUD Preparation

The title agents also coordinate with many industry professionals such as lenders, real estate agents, buyers, sellers and their attorneys to make sure all the documents are prepared properly, filled out, signed and ready at the time of the closing.

The title agencies can also provide Escrow Services that will allow buyers and sellers with the disbursement of funds. According to the FBI, nearly a billion dollars was diverted or attempted to be diverted by fraudulent actions. The best title agents use only secure communication platforms and are knowledgeable when it comes to hackers and fraud.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.

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