3528 Worthington Boulevard, #101
Urbana, Maryland 21704
phone: 301-874-9040    fax: 301-874-0033

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Frequently Asked Questions

What do I need to bring to settlement?

First and foremost you need to bring a smile. Our goal at Monocacy Title is to ensure that you leave with a smile, too. You will also need to bring a valid government issued picture I.D. such as a Driver's License, Passport, or Military I.D. Additionally, if you are bringing money to the settlement these funds will need to be "certified funds." Certified funds can come in the form of a cashier's check, teller's check, money order, or certified personal check. You may also be required to bring additional documents which our office will inform you of in advance.

How long will the settlement take?

While the time of a settlement can vary greatly, typically a refinance will take between 30 and 50 minutes and a purchase will take 45 minutes to 1 1/4 hours.

How far in advance should I contact Monocacy Title to handle my settlement ?

If purchasing, you should contact Monocacy Title as soon as you have a signed contract. By contacting us as early as possible, you allow us adequate time to have a title search conducted on the property being purchased and clear any outstanding "clouds" on title prior to your contracted settlement date. Additionally, we can better coordinate the settlement with all parties involved including the sellers, purchasers, real estate professionals, and lenders.

If refinancing, you should contact us after you submit your loan application. Do not wait for final loan approval, as the time between your loan approval and settlement is often only a few days. By scheduling with us early, you allow us time to have the title searched, clear any issues with your title, obtain payoffs from your current lender, and coordinate closing with your new lender.

What if I can not attend settlement?

In certain circumstances, a "power-of-attorney" can be prepared for you. A "power-of-attorney" is a legal instrument which allows another to sign legal documents on your behalf. Please give one of our attorneys or settlement officers a call to see if this is an option that would work for you.

Who attends settlement?

At a "purchase settlement", typically the sellers, purchasers, and their real estate professionals will attend the settlement which will be conducted by one of our competent and experienced attorneys or settlement officers. At a refinance settlement usually only the borrowers and our attorney or settlement officer are present.

Who does Monocacy Title represent at settlement?

In a purchase transaction, the title company "represents" the contract. The title company does not negotiate the terms of the transaction, rather we facilitate the execution of the terms of the transaction. We do not act for, advise, or "represent" any one party. In a refinance closing, we are there to follow your lender's instructions and to explain the documents to you and verify that they are properly executed. We do not represent the borrower or the lender.

When can I find out how much money I need to bring to settlement?

Because we rely on third parties such as lenders to provide us with instructions, information, and figures for your settlement, we often can not furnish to you the exact amount you need to bring to closing until the day before, or, sometimes, even the day of settlement. However, you should be able to rely on your lender's or your realtor's good faith estimate for the approximate amount of money you need to bring with you. If you happen to bring too much money to settlement, we refund any excess amount back to you upon completion of the closing.