General Guidelines - DISCLAIMER

The explanations discussed below are general guidelines of settlement procedures and are by no means to be deemed legal advice or the law of the states of Maryland, Virginia or the District of Columbia. Each settlement attorney or title company may operate differently. If you are not a client of this firm, you should always defer to your realtor, mortgage broker, attorney or settlement agent for any questions or concerns that you may have. Acer Title & Escrow, LLC has established this site as a means to provide general information about settlements. Receipt of information from this site does not constitute an attorney-client relationship.

How do I choose Acer Title & Escrow, LLC as my settlement company?

When entering into a sales contract, instruct your realtor to insert Acer Title & Escrow, LLC as your settlement agent in the contract. If you are conducting the transaction without a realtor, insert our name in your contract. When refinancing, instruct your mortgage broker or lender to forward the transaction immediately to Acer Title & Escrow, LLC after your initial consultation.

Now that the contract has been entered or ratified, what do I do?

You or your realtor should forward a copy of your contract to our office. Additionally, you should notify us if you are borrowing money to complete the transaction or if this is an "all cash" deal. Most settlements involve a loan or mortgage. If you need assistance in obtaining a loan, we can suggest some sources for you to contact or see our Recommended Resources . Once we have your mortgage contact's name and phone number as well as the contract of sale, we will be able to start processing your paperwork for settlement. In the interim, you should continue to work with your lender to timely meet their requirements for approval of your loan.

When will I know how much money I will need to bring at settlement?

We will try to have the amount necessary for settlement available to you the day prior to settlement. We compile charges from many sources to complete your settlement sheet. If one source does not have their costs available to us, it will delay our ability to provide you with the amount necessary for closing. Once the figure is provided to you, you will need to obtain a CASHIER’S CHECK OR CERTIFIED CHECK payable to Acer Title & Escrow, LLC. For refinances only, if the amount necessary for closing is less than Two Thousand Dollars ($2,000.00), it may be in the form of a personal check.

What items do I need to bring to closing?

- Driver's license or state identification with photo
- Cashier’s check or certified funds - Payable to Acer Title & Escrow, LLC
- Sellers should bring keys

What information do I need to provide Acer Title & Escrow, LLC when refinancing?

When refinancing, we need information regarding your present mortgage company and your new mortgage lender. You should provide us with your new lender's name and phone number so that we may coordinate settlement and satisfy all your new lender's requirements.

Additionally, we will send you a Permission Letter to execute and return to us with your present mortgage company's name, your loan number, a phone number, your social security number and your permission for us to contact them directly for your payoff balance. We will then be able to obtain the correct information to payoff your present loan at settlement. Additionally, you should review your paperwork from the purchase of your home. If you provide our office with your owner's title insurance policy, you may receive a discount on your settlement. The title policy should have been provided to you along with your recorded Deed.

ATTN: Sellers and Parties Refinancing

For your convenience, please click here for a Permission Letter. We need your signatures, so please mail or fax back to our attention.