Pre-Closing
Step One – Buyer Chooses Home & Pays Earnest Money
The purchaser will deposit their earnest money via a check or electronically to Setco Services. For electronic deposits, ask a Setco team member to send a link to our mobile-friendly electronic deposit option ($9 provider fee applies).
Step Two – Price and Closing Costs Negotiated
Don’t forget closing costs when negotiating your deal. Find out who typically pays what with our closing cost explanation and estimate your costs with our cost calculator. For prices on the go, download our iPhone App.
Step Three – Contract is Signed and Submitted to Setco
When we get your contract, we’ll set up a Qualia Connect for you to monitor your closing as it happens. You will receive an email from us with details about what is needed to start your closing.
Closing Process
Step One – Setco Orders Title Work
Setco ensures property title is clear and closing requirements are met.
Step Two – Setco Fulfills Lender’s Requirements
Before giving a buyer a loan, lenders require different things, such as a Termite Inspection, Appraisal, or Survey. Setco monitors these requirements to ensure they are adequately fulfilled and promptly. We’ll even schedule surveys for you!
Step Three – Paperwork Is Finalized and Signed
Setco also collects HOA information and calculates Property Tax Prorations for the closing. We’ll prepare all the documents needed, and you can view each step of the process via Qualia Connect. The property changes ownership on the day of closing.
Post-Closing
Step One – Buyers Enjoy New Home
Though the buyers enjoy their new home on the day of closing, the process is not over yet.
Step Two – Deed Is Recorded and Payments Disbursed
Setco works with the appropriate county to record the change in ownership on the deed in public records. Then, we send out the proper payments to those involved in the process, such as Realtors and Inspectors.
Step Three – Post Closing Documents Sent
You should receive your Post-closing Documents and Policy within 45 days. You can always view your documents on Qualia Connect.