ANSWERS TO THE MOST FREQUENTLY ASKED SETTLEMENT QUESTIONS
1. WHAT IS AYRES TITLE AND SETTLEMENT SERVICES LLC?
Ayres Title is a full settlement and titling insurance company. We are licensed by the Virginia State Bar as a title underwrite and settlement agent.
We are able to take away all of your worries concerning the closing process, as well as provide you with title insurance.
All you need to do is come to the closing table.
2. WHERE IS THE SETTLEMENT HELD?
Settlement takes place in our offices at 5468 Richmond-Tappahannock Highway, King William, VA. We do offer other arrangements where we can come to you at your home sale, your purchased home, or real estate office for your closing home purchase, sale, or construction loan. We strive to go the extra mile!
3. WHAT SHOULD BE BROUGHT TO THE CLOSING?
You must provide us with picture identification. You may use your driver's license, passport, or other identification, which includes your name and photo as evidence of your social security number.
4. HOW MUCH MONEY WILL BE NEEDED?
Final figures are generally available 24 hours before settlement. If a loan is being provided for a purchase, then the buyer must be sure to review the good faith estimate with your lender. Our office will go over all closing costs. Funds may also be wired if more convenient.
5. WHAT DOES THE SETTLEMENT AGENT DO?
The settlement agent will review the title commitment required to obtain a clear insurable title and contact a surveyor to have the property surveyed if needed. A new survey is not required in all cases. We help in coordinating with your homeowner's insurance agent; the insurance coverage required for your new home.
Also, we are also responsible for obtaining the following reports: termite, well and septic reports, oil pro-ration, and similar inspections for your home. We work with your lender in preparation and review every detail of your closing documents, preparation of the settlement statement, and review closing documents before the signing. Title will be updated prior to recordation of deed in the Clerk's Office and Circuit Court of Property Location. Proceeds will be disbursed to all parties in the transaction following recordation of closing documents..
6. WHAT ABOUT HOMEOWNER'S INSURANCE?
If you wish, we can advise you about homeowner's insurance.
7. WHAT ABOUT REPRESENTING THE SELLER?
We will give you a list of things the seller must provide. We coordinate the seller's documents through our licensed Virginia attorney.
We do all the work for you! We will be happy to discuss with you any questions you may have before you choose a competent closing agent.
