Behind the scenes, much happens to ensure you get to the closing table on time. As soon as a contract is completely signed off by all parties, we order title work. (I should note that I don't like last minute surprises at the closing table and I'll do whatever I can to avoid delays.)
This month, we've had 3 different issues revealed on the title work.
(1) Unpaid child support. We have a seller who has 100% custody of his child, yet the title work showed unpaid child support would need to be current or an affidavit stating that there was no longer a court order for support. This was an easy fix as the seller had the correct documentation and was able to get it to the title clerk far in advance of his closing to avoid a delay.
(2) Mysterious 3rd seller appears on title work. I represent the buyers so when we got title work back, I was a little concerned to see 3 sellers and our contract was only signed by 2 people. A quick call to the title company solved that mystery - it was a typo from the title clerk. Imagine if we'd gotten all the way to the closing table and then discovered the oversight! All documents would have to be prepared again and would potentially delay closing.
(3) Sellers have 2 mortgages and a home equity line to be paid prior to closing. Total payoff is nearly $120k more than the selling price of the home. This one had me worried until the title clerk verified that mortgage 2 was actually a refinance of mortgage 1. Still, sellers have to bring money to the closing table and I'm glad they have plenty of time to liquidate assets.
If you are in contract to buy or sell a home, ask your agent to supply you with the title work. Read thru everything to make sure that all requirements can be satisfied so that you can close on time. I'm always amazed at the tales from the trenches regarding title work surprises. If ordered early in the process, there should be plenty of time to correct any typos, oversights and surprises.
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