Closing Steps

BUYER

  • Make loan application (if applicable)
  • Provide lender required documents
  • Pay for appraisal
  • Order inspection(s) (if applicable)
  • Secure homeowner’s insurance policy
  • Complete inspection response (if applicable)

 

SELLER

  • Provide title company with loan account numbers, social security #s and HOA contact information.
  • Request Power of Attorney if needed.
  • Respond promptly to request for information to clear title issues.

 

REAL ESTATE BROKERS

  • Order title policy and schedule closing
  • Follow-up with the Buyer and Seller (as appropriate) and be sure all necessary information needed is provided to the correct party.
  • Complete inspection and any other responses in a timely manner.
  • Communicate any issues.
  • Provide all fee information to the title company. (Home warranty, commissions, repair invoices, etc.).
  • Be sure your client is informed of date/time/location and any other last-minute details.

 

LENDER / REGIONAL LAND TITLE

  • Communicate any needs to the buyer/seller/real estate broker(s) and follow-up as necessary to complete all documentation.
  • Know closing date and work to meet CFPB requirements.
  • Prepare all necessary closing documents for final closing.

 

CLOSING DAY

  • BUYER/SELLER – Bring VALID government issued ID. Any funds due of $10,000 or more must be sent via wire transfer.
  • Make appropriate plans and contact the title company directly for wiring instructions.
  • Double-check all account numbers and send the wire the day prior to closing to ensure receipt and avoid delay.
  • Please arrive promptly for your scheduled closing.