The Ultimate Guide to Closing at Bluegrass Land Title

Real Estate Closings at Bluegrass Land Title

Buying or selling a home is one of the largest transactions in a person’s life and represents an important milestone, whether you’re purchasing your first home or managing an investment property. At Bluegrass Land Title, we work hard to make this process a smooth, meaningful experience for all parties. 

Our team approaches each closing with a focus on creating a comfortable, professional environment where you can confidently complete your real estate transaction. Closings take place in our spacious, beautifully decorated closing rooms that feature personalized touches such as a congratulatory message and specialty beverages. 

The entire closing experience is designed to be focused on our customers. We’re respectful of your time, and we’re always willing to make adjustments to fit your needs or preferences. While closing the real estate transaction is our objective, taking care of people throughout the process is our priority. We understand that behind every transaction are individuals and families making important life changes.

Our experienced team is here to support you and answer your questions throughout the entire transaction. We believe in clear communication and taking the time to ensure you understand each part of the process. Attention to detail and accuracy drive our procedures behind the scenes so that your closing experience is stress-free and enjoyable.

Preparing for Closing Day

Once we receive your signed settlement agreement and closing date, our team will begin a detailed process to prepare for your closing. 

Bluegrass Land Title's Role

We start with a thorough title search and examination, typically covering 30-60 years of property records. This research helps us identify any potential issues that need to be addressed before closing, such as liens, easements, or other title matters.

After completing the search, we issue a title commitment outlining our findings and any requirements that must be met to issue title insurance. Our clearing team works to resolve any title issues discovered during the search. We coordinate with various parties including creditors, attorneys, and government offices to obtain necessary documentation and releases.

Throughout this period, we also review all legal documents related to your transaction, including the purchase agreement and any special documentation like powers of attorney or corporate resolutions. For financed transactions, we work closely with lenders to prepare closing documents and ensure all loan requirements are met.

Typical timelines vary based on transaction type. Cash purchases can often close within 1-2 weeks after contract acceptance, while financed purchases usually take 2-4 weeks. Some transactions require additional time due to their complexity:

• Estate sales may need additional court documentation
• Short sales require lender approval of the purchase price
• New construction closings align with completion schedules
• 1031 exchanges must meet specific IRS timing requirements

Your escrow officer can provide a more accurate timeline estimate based on the specific details of your situation.

We hold earnest money in escrow and coordinate with all parties to gather necessary financial information, including payoff statements and tax prorations. As closing day approaches, we prepare the final closing package and ALTA settlement statement detailing all financial aspects of your transaction.

For Buyers and Sellers

Although your closing company will handle most of the details in the weeks prior to closing, you may need to complete a few important tasks. If you're using a power of attorney, trust documents, or corporate documents for closing, submit these to us as early as possible for review. This allows time to address any potential issues.

Buyers should submit their earnest money deposit promptly after contract acceptance. You can use DepositLink transfer, the BLT EMD app, or drop off a check at our office. Your agent's brokerage can also hold earnest money until closing, so always consult with your real estate agent about their preference for handling earnest money. 

Your escrow officer may also request additional information or documentation pertinent to your file during this time. Be sure to respond to these requests through your secure Qualia Connect portal.

Countdown to Closing Day

The final 24 to 48 hours before closing are important for ensuring a smooth transaction. Taking time to review documents and gather necessary items in advance helps prevent delays on closing day.

Review Documents

Your ALTA Settlement Statement will arrive around 24 hours before closing through Qualia. This document outlines the complete financial picture of your transaction, including the purchase price, loan amounts, and any prorated items like taxes or HOA dues. 

The settlement statement details all credits, debits, closing costs, and the final amounts due at closing. Every client should make sure to review this document carefully upon receipt and contact their escrow officer immediately with questions or concerns.

Make Plans to Attend Closing

Kentucky law requires specific parties to attend the real estate closing, including everyone listed on the deed and their spouses, even if a spouse is not on the deed. Additionally, anyone signing as a power of attorney or authorized representative for a company must attend closing. 

We also understand that schedules can be challenging and unexpected things can happen. If they do, please let us know right away if a party cannot attend the closing. We offer several alternatives including remote closings and split closings between offices to ensure that closing can proceed on time.

Before closing day, verify your scheduled closing time and location. There are seven Bluegrass Land Title locations in Kentucky, so make sure you have directions to the correct office and allow time for parking and check-in. If you need to adjust your closing location or time, contact your escrow officer as soon as possible.

Gather Items and Wire Funds for Closing

You’ll be required to bring a current, unexpired, government-issued photo ID to closing. The ID must clearly show your photo and signature. We cannot accept expired IDs, non-photo identification, or social security cards as valid identification. Verify that your identification is readily available and unexpired ahead of closing day. 

For transactions over $1,000, funds must be in the form of a wire transfer or cashier's check. Buyers using Seller Proceeds from a previous transaction to purchase another property can use a proceeds check from another title company (up to $100,000). For proceeds greater than $100,000, the other title company will need to wire the funds.

If a buyer is wiring funds, initiate the transfer at least 12 hours before closing to ensure the money arrives in time for closing. Only use the secure wire instructions provided through Qualia. You should never trust wire instructions that are sent by email. Clients are always welcome to verify their wiring instructions by calling their local Bluegrass Land Title office.

Sellers should gather all property-related items including keys, garage door openers, security codes, mailbox keys, and any HOA access cards or fobs. If you have original documents that need to be recorded, such as affidavits or quitclaim deeds, gather these to bring to closing as well.

Closing the Transaction

The average closing takes about 45 minutes, though timing can vary slightly depending on your transaction. Our team respects your schedule and ensures an efficient process without rushing through important details. 

Upon arrival, our Director of First Impressions will bring you to a comfortable closing room and verify your identification. After introductions, we'll guide you through the closing package, which includes loan documents, title company forms, and required state and county documentation. A notary will witness and authenticate your signatures on specific documents as required by law.

If your lender provided electronic documents for signing, please complete these before arriving to streamline the closing process. At closing, your closer will verify that you've completed these electronic signatures. 

Throughout closing, we verify all details including wire transfer information and answer any questions you have about the documents or process. We'll also review the timeline for the disbursement of funds and recording of documents.

For sellers, this is when you'll provide keys, garage door openers, and other property access items to the buyers. Many clients appreciate having a photo to commemorate their closing day, and we’re happy to take those photos for you.

After Closing

If you opted out of owner's title insurance at closing, you have a 30-day window to purchase coverage. We can accept personal checks or credit cards for the premium. After 30 days, a new title search would likely be required to underwrite the policy.

We electronically record documents like deeds and mortgages in counties where available, typically completing this process within 1-2 business days after closing. For counties that don't offer electronic recording, we coordinate with the clerk's office to ensure prompt recording of your documents.

Once recording is complete, we provide confirmation through Qualia along with access to your recorded documents. We provide paper copies of key documents at closing and maintain digital copies of your complete closing package online. You can access your closing documents at any time through the Qualia portal. 

Special Closing Circumstances

Not every Bluegrass Land Title closing happens around the closing table in one of our offices. We offer several flexible closing options to accommodate your schedule and location needs. 

• Split closings allow parties to sign documents at different Bluegrass Land Title offices. This works well for buyers and sellers who need to close at separate times or locations.
• Digital closings that utilize Remote Online Notarization (RON) are available for cash transactions and sellers in financed transactions. This secure option lets you close from anywhere with internet access on a device with a camera, such as a smartphone, laptop, or tablet.
• Remote closings pair you with a mobile notary who meets you at your location. The notary guides you through document signing and returns the package to us the same day. This service is available for buyers with financed transactions and refinances as well as for sellers.
• Travel closings are available for locations within an hour of a Bluegrass Land Title office. One of our representatives can meet you at various locations within our markets, including homes, offices, healthcare facilities, or other convenient locations. 

Contact your escrow officer or Bluegrass Land Title location to learn more about the flexible closing options that are available to you. 

Support Throughout the Closing Process

Whether you're buying your first home or managing multiple properties, we're dedicated to supporting our clients throughout their entire real estate transaction. 

Your escrow officer is your main point of contact for questions and updates throughout the closing process. Contact them whenever you have questions about documents or requirements, need to discuss closing logistics, or want to verify wiring instructions. Your escrow officer can also assist you if you notice discrepancies or errors in the settlement statement or if you need to make adjustments to the closing time or location. 

Qualia Connect provides our customers with a secure portal to communicate digitally with their escrow officer. Please do not send text messages or emails with your questions or personal information. Our team monitors Qualia messages throughout the day and responds promptly to get you the answers and information you need.