Pinnacle Title & Escrow was founded in 1996 as a full service real estate settlement firm. The company is currently a Licensed Title Insurance Agent in Maryland, Virginia, The District of Columbia and Florida, and assists in arranging settlement services in many other jurisdictions. Pinnacle has a seasoned team of title insurance and settlement experts processing hundreds of purchase and loan transactions per month. We have attorneys and processors who are fluent in Spanish.
Pinnacle Title represents numerous lenders and realtors in connection with residential transactions. Pinnacle also represents builders in connection with the purchase and sale of new homes. Through our affiliated law firm, Solomon & Maged, P.C. we are able to assist clients with questions relating to legal matters and to clear title encumbrances which many settlement companies can not clear.
Our user-friendly computer and internet system allows clients online access to all of the information relating to their loan, purchase or sale. Clients can determine the status of the closing, review documents relating to the settlement and view all costs related to the settlement transaction. New clients unfamiliar with our system can either contact us online for instructions on how to use our system or call us at 301-424-5400 for guidance on the system. Let us partner with you to make the settlement process easy and enjoyable.
As soon as we receive a request to perform a closing we will order a title search. The title search (or abstract) will include any and all liens on the property as recorded in the Land Records of said County. The title search will also include a judgment search on the Borrowers to make sure that the property does not have lien attach due to some unpaid debt or other lien due to litigation. We will also order from any current lenders to the existing owner, written payoffs showing the amount required to pay-off any existing loans or liens against the property.
Upon receipt of the title search, the title search is examined and reviewed by an Attorney and/or a licensed settlement agent. If there are liens attached to the property, it is determined (on the 1003 provided by the mortgage broker) if said lien will be paid off in the process of the current loan. It is not uncommon to find a lien against title to the property that is unknown to the Borrower. Sometimes, prior loans secured by the property have been paid in full, however, the paperwork (a release or Certificate of Satisfaction) has not been properly completed to release the lien from the property. We will obtain lien information, track down the last settlement company involved and obtain the releases prior to the new loan being put in place since most Lenders make it a condition of the new loan that they be in "First Lien Position". If necessary, the Title Company will obtain a Subordination Agreement from a current lien holder, if the lien is not being paid off and thus the current lien holder agrees to be placed in "Second Lien Position" to the Lender's new loan.
Once the Abstract review is complete and title issues are resolved, we will issue and send to the Mortgage Broker a title binder also known as the title commitment. This document states that we will insure the title of the subject property. This is of primary importance to any Lender. Unless they receive "title insurance" a Lender will normally refuse to provide the loan. We will also provide an insured closing letter from the settlement company's underwriter insuring that the Lender's funds are protected and provide wiring instructions for funds to be sent to the settlement company's escrow account. We will also obtain the real estate tax information for the property. Most Lenders require proof of tax payment since delinquent real estate taxes can become a lien against the property and endanger the Lender's first lien position. To insure that funds are available to pay future real estate taxes, most Lenders require an escrow of several months of real estate tax payments. This results in one-twelfth of your insurance and taxes being added to your monthly payment (i.e. your payment includes "PITI" or principal, interest, taxes and insurance). We will also obtain payoff information from current lenders of the property, including: the principal balance of the outstanding loan, the per diem amount of interest required to payoff the existing loan, fee and penalties, and total amount required to fully payoff of the existing loan. In addition, we will comply with any local requirements relating to certificates or documentation required for recordation of the deed or deed of trust.In the case of a purchase of the property, we will also, order a survey of the property to be sure that the correct parcel is being purchased and that there are no encroachments onto the property; obtain final water bill from the property; and if applicable, obtain Home Owner's Association payoff information. In addition to the information above, we will also prepare a HUD-1. The HUD-1 settlement statement contains a detail of all of the costs and fees that are incurred by the Borrower in connection with receiving a loan. The HUD-1 settlement statement also allocates the transfer taxes, recording costs, brokerage fees and other costs related to the sale of a property.
After the settlement is conducted, we will review all documentation to insure the accuracy of the documents, audit the HUD-1 Settlement Statement and disburse the funds of the settlement sending all proceeds to the proper place; record all deeds and deeds of trust in the applicable real property records; pay all applicable real estate taxes collected at settlement, send loan package back to Lender; prepare and provide the title insurance policy for the Lender and owner if applicable; and obtain a Certificate of Satisfaction or release from prior Lender(s) to be filed at courthouse so that the repayment of the prior loan is evidenced in the records. We are always available after settlement to answer any questions.
Pinnacle Title & Escrow, Inc. is a full service title company. Pinnacle provides attentive personal consideration to our residential and commercial customers, to lenders and to real estate professionals. Our comprehensive experience assures the accuracy and security of your transactions.
Our title services include:
- Online settlement scheduling
- The convenience of downloadable forms
- Title insurance
- Escrow services
- Closing services
We offer the following services to complement the services of Agents and Lenders:
- Estimated HUD-1 Statements
- A Pre-Settlement Checklist
- A Step-by-Step Closing Guide
- Cost Calculators
- Useful Resources & Contact Lists
For Buyers and Sellers, we offer all of the above as well as:
- Reasons Why You Need Title Insurance
- Recommendations & Requirements for Real Estate Transactions
- A Glossary of Terms Used in the Settlement Process
Why Choose Pinnacle Title and Escrow?
- Full range of real estate closing services, including title insurance, escrow, and more.
- Focused 100% on providing impeccable service
- Order title online
- We strive to make your closing go smoothly and easily
- We serve clients throughout Maryland, Virginia, the District of Columbia, and Florida
Principal of Pinnacle Title & Escrow, Inc., has over 22 years of experience in the real estate industry. Mr. Maged is the managing principal of Pinnacle Title & Escrow, Inc., directing all day-to-day operations, including supervision of escrow accounting, disbursements, and title related issues. Mr. Maged's diverse financial background, combined with his extensive experience in the mortgage industry, allows him to provide clients with innovative solutions to obstacles which may arise during the settlement process. In addition, his knowledge in estate planning and corporate structuring provides clients with resourceful solutions relating to the ownership of real estate. Mr. Maged is a magna cum laude graduate of The University of Baltimore School of Law, and received a Bachelor of Science degree in accounting from the University of Maryland at College Park.
Vice President of Pinnacle Title & Escrow, Inc., has worked in the real estate industry since graduating from The Catholic University of America Columbus School of Law in 2012. As a law student at the Columbus School of Law, Mrs. Siegel was published in The CommLaw Conspectus: Journal of Communications Law and Policy and served as the Journal’s Production Editor. Prior to attending law school, Mrs. Siegel obtained a Bachelor of Business Administration with concentrations in finance and business law from Emory University’s Goizueta Business School. Mrs. Siegel specializes in difficult title matters and resolving settlement issues with regards to residential real estate matters. Mrs. Siegel grew up in Montgomery County and continues to live here with her husband, daughter and mini Goldendoodle.
51 Monroe Street, #1505
Rockville, MD 20850
For information about Pinnacle Title, email us at email@example.com
To schedule a settlement, email us at firstname.lastname@example.org
To order a title, email us at email@example.com
David M. Maged, Esq.
Direct Dial: 301-279-4213
Bari Solomon Siegel, Esq.
Direct Dial: 301-279-4212
If you have a problem/complaint, email us at firstname.lastname@example.org