Escrow & Title
A West Virginia real estate closing is conducted at a title company. The title company's role at closing includes:
ARepresenting the buyer as an attorney
BPreparing closing documents, collecting and disbursing funds, and recording the deed✓ Correct
CGuaranteeing the property's market value
DIssuing the buyer's mortgage note
Explanation
A title company facilitates the closing by preparing closing documents (deed, deed of trust), collecting funds from all parties, disbursing funds according to the closing disclosure, and submitting the deed for recording with the county clerk.
Related West Virginia Escrow & Title Questions
- A West Virginia 'deed of release' (or 'satisfaction of mortgage') is recorded when:
- In West Virginia, a deed must be recorded in the:
- A West Virginia seller receives a 'clear title' report from the title company. This means:
- A quitclaim deed in West Virginia transfers:
- In West Virginia, an escrow agent who fails to follow proper closing instructions from the lender and buyer may be liable for:
- A chain of title in West Virginia refers to:
- West Virginia is an attorney closing state, which means:
- In West Virginia, a deed must be delivered and accepted to be effective. Delivery means:
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