Holland Law and Title

Holland Law and Title

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Or click on one of the rate calculators listed below:

Basic Title Premium Calculator
Refinance Title Premium Calculator
Investment Calculator
19 in 1 Mortgage Calculator
Seller's Estimated Closing Costs
Buyer's Estimated Closing Costs
Reverse Mortgage Calculator

About Title Insurance

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What Each Party Does in Escrow

The Seller:

  • Discharges all duties undertaken in the contract relating to the sale of the subject property;
  • Deposits the executed deed to the buyer with the settlement agent;
  • Deposits evidence of pest inspection and any required repair work, if applicable;
  • Deposits other required documents such as tax receipts, addresses of mortgage holders, any state or federal required documentation.

The Buyer:

  • Discharges all duties undertaken in the contract relating to the sale of the subject property;
  • Deposits the funds required, in addition to any borrowed funds, to pay the purchase price with the settlement agent;
  • Deposits funds sufficient for home and title insurance;
  • Arranges for any borrowed funds to be delivered to the settlement agent;
  • Deposits any deed of trust or mortgages necessary to secure loans;
  • Approves any inspection reports, the Preliminary Report for title insurance and other documents called for by the purchase and sale agreements;
  • Fulfills any other conditions specified in the instructions.

The Lender (if applicable):

  • Prepares loan document package for buyer/borrower;
  • Deposits proceeds of the loan with the settlement agent;
  • Directs the settlement agent on the conditions under which the loan funds may be used.

The Settlement Agent:

  • Opens the order for title insurance;
  • Obtains approvals from the buyer on the Preliminary Report/ Title Commitment, pest and other inspections;
  • Receives funds from the buyer and/or any lender;
  • Prorates taxes, rents and other monies subject to proration pursuant to the contract of sale;
  • Disburses funds for title insurance, recording fees, real estate commissions, lien clearance, etc.;
  • Prepares an estimated statement or HUD settlement statement, as needed, indicating amounts to be disbursed for services and any further amounts necessary to close.
  • Records deed and loan documents, delivers the deed to the buyer, loan documents to the lender and funds to the seller, closing the escrow.
  • Issues final closing statement/HUD settlement statement and forwards to buyer, seller and lender.


If you have questions about the escrow process, please call us or watch these simple videos explaining title insurance and closing costs. Here are the same videos on title insurance and closing costs, in Spanish.