What to Expect at Your Closing:
Please allow adequate time for your closing. A normal real estate closing when a loan is involved will take about an hour. You will need two forms of photo I.D., preferably a driver’s license or passport. The Notary will need to see your identification in order to notarize documents.
Prior to Closing/Settlement:
- Obtain a fully executed Purchase/Sales Contract from your Realtor.
- Arrange financing if necessary, and have your lender contact the title company.
- Make sure to use your complete legal name for title purpose.
- Fax your Purchase Agreement (Contract of Sale) to the title company.
- Notify the title company if a Power of Attorney is necessary or if any parties will take title in the name of a Trust, LLC, or Corporation or if any parties will not attend the closing.
- If the property is a Condominium, please arrange for the necessary condominium association documents to be delivered to you.
- Order your inspections. Typically, these include the following:
- Termite inspection (except condominiums)
- Structural and Mechanical Inspection (often called “Home Inspection”)
- Radon Test (if desired)
- Well Test (if applicable)
- Septic Inspection (if applicable)
- Mold Inspection (if applicable)
- Negotiate payment of items arising from the professional property inspections.
- Obtain all applicable insurance policies (Homeowner’s, Flood, Windstorm) and provide a receipt showing that you have paid the premium, in advance, for one full year of insurance. If the property is a Condominium, obtain a copy of the master insurance policy from the Homeowner’s Association.
- If the buyer is a corporation, a limited partnership, or limited liability company please produce a Certificate of Good Standing that is no more than 30 days old. In the case of a Corporation, we also need certified copies of corporate resolutions authorizing the purchase and encumbrance of the property.
- Ask your lender to include a copy of the appraisal for which you paid.
- Schedule your walk-through inspection at least 24 hours prior to closing.
- Review the preliminary Settlement Statement from the title company.
- Contact the title company to verify the schedule closing time.
At Closing/Settlement:
- Confirm the driving directions to the title company.
- Bring a valid Picture ID’s (Driver’s License, Passport, etc.).
- Review all settlement and title insurance documents with the closing agent.
- Wired funds are the generally accepted form of payment for the amount due from you. When wiring funds, you will be provided with wiring information prior to closing. Accepting wire and disbursement instructions by email is dangerous, especially changes to those instruction. Always verify the information before sending.
- Bring all applicable insurance policies (Homeowner’s, Flood, & Windstorm) and paid receipts showing that you have paid the premium.
- Request the keys, garage door openers, & information on the alarm system, if applicable.
- Request all current warranties on home equipment and appliances from seller.
- Contact all appropriate utilities to have future bills sent to you.
Here’s what you’ll need to bring to your closing.
Buyer
- Photo identification (passport, driver’s license, or state-issued identification card) and another form of ID required by some lenders.
- Proof of purchase of insurance for fire, casualty, flood, windstorm, hurricane, etc.
- Contact title company to confirm that your wire transfer for the cash to close has been received.
- Any additional documentation that the title company has asked you to provide.
Seller
- Photo identification (passport, driver’s license, or state-issued identification card)
- Invoices for any unpaid taxes, utilities, assessments, etc.
- Any items to pass on to the Buyer such as association payment coupons, warranties, etc.
- Garage door opener, keys, access cards or the like.
- Any additional documentation that the title company has asked you to provide.
