Products & Services

Once all of the terms and conditions of the real estate sales contract have been met, the real estate transaction may be “closed”. Real estate closings take place at the offices of the lender, the buyer or seller’s attorney or broker, or most commonly, at the title company. Runkel Abstract & Title Co. is responsible for hundreds of closings each year, and combines many years of experience together with the latest technology to the closing table.

At the closing, the buyer and seller meet to exchange the purchase price for the deed and various other ownership documents. Numerous other documents, many related to the buyer’s financing, are also typically executed at the closing. When the new lender is satisfied that its requirements have been met, it funds the transaction, providing money to the title company for the buyer to complete the purchase. In the event that all requirements are not able to be met, all parties may agree to hold an escrow to allow the closing to be completed.

Every escrow is unique and most are more complex than explained here. If you have questions about the escrow process, we suggest you contact an escrow officer or attorney to obtain detailed advice and further explanation.

Runkel’s recently renovated facility features 8,200sq ft of finished office space with four closing rooms to accommodate everything from refinances to large commercial real estate transactions. To make sure that your closing goes smoothly, Runkel gathers all tax prorations, new construction assessments, general pay-off amounts and escrow agreements assuring that everything you need for your closing is at your closing.