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.