The closing process starts when the contract is signed and includes the review and identification of any title issues, as well as, clearing those issues in order to allow the transaction to proceed to settlement. Bringing the parties to the closing table as smoothly as possible with full understanding of the process is one of the core goals of Terra. We understand that issues about title do arise and need to be addressed.Our immediate access to in house legal advice and direction when there are problems with the title to a property is one of the primary drivers of our success rate.We have been able to close transactions where other title companies were simply not equipped to do so.
Not every title need involves an agreement of sale for property. Sometimes a client just needs information about specific properties for general business purposes or more specific needs. When requested, Terra provides its clients with information about the ownership and liens relating to properties. Both ownership and lien information will be provided to the client in a straightforward presentation. The supporting documentation can also be provided for those with a greater knowledge and understanding of the underlying ownership and lien documents.
Beyond traditional services, Terra also supports transactions where the borrower has agreed to return distressed property to the secured lender. Terra coordinates and completes Deed-in-lieu agreements under the supervision of their parent company, Stern & Eisenberg, PC, for a variety of lenders, including governmental agencies. From reviewing title to determine if a property is a candidate for the deed-in-lieu process to the final transfer of the property back to the lender, Terra has the knowledge and skill to assist.
Foreclosures & REOs
Foreclosure is the process of enforcing a lender’s interest in real property through the judicial process or alternative loss mitigation efforts. When a borrower defaults on a loan secured by real property, a lender may exercise its rights under the mortgage, deed of trust or other security instrument. Terra supports the effort by providing its customers with title information and reports required in order to enforce the security interest by identifying title issues, lien priority and junior and senior lien creditor information. When the foreclosure process is completed, whether the property is surrendered or foreclosed, properties returned to the lender are handled through the REO (real estate owned) process which is also supported by Terra through the out-sale closing.
Estates & Other Matters
Terra offers its clients a full range of services to assist in transition of properties in a number of other situations, including, but not limited to the transfer of real estate from an estate to the beneficiaries and/or heirs entitled to an interest in the property. Terra has an affiliation with the law office of Stern & Eisenberg, PC whereby it can get direct strategic recommendations as to how matters should be addressed, as well as, knowing when a matter needs involvement of an attorney or the judicial system. Terra assists its customers with the recordation of UCC financing and continuation statements in connection with more sophisticated business transactions and Terra makes sure the security instrument documents are filed with the appropriate governmental entities, wherever they may be located.
We work with: - First time home buyers - Seasoned home buyers - Lenders - Mortgage Broker - Realtors - Investors - Developers - Attorneys - FSBO - Virtually anyone who is involved with buying and/or financing real estate
We provide: - Owner and Loan Policies - Foreclosure Reports - Owner & Lien Statements - Conveyancing Solutions - Title Curative Resources - HUD & CD Preparation - Recording Services - Escrow Services - Notary Public
We have experience with: - Purchase & Refinance Transactions - Commercial Property - Wholesale & Investment - Mezzanine Financing - Construction Loans - Deeds-in-lieu - Short Sales - REO Outsales - Post Sale FHA & VA Conveyances