Whether you are purchasing a home or selling a house, knowing what to expect and being prepared at the “closing” can help eliminate stress and result in a pleasant experience. We understand how important this transaction is to you, and we are committed to consistently providing a level of service that prepares you for this final step in your real estate transaction.
Although the settlement process can vary from state-to-state, here are some common items that may be required from you at closing and can help your closing go as smoothly and quickly as possible.
VALID PHOTO IDENTIFICATION
Two forms of identification are typically required at closing, including one of the following:
— Valid U.S. Driver’s License or non-driver I.D.
— Valid Canadian or Mexican Driver’s License issued by the Official Agency
— Current United States or Foreign Passport (Foreign Passport must have been stamped by U.S.Immigration and Naturalized Service)
CASHIER’S CHECK, TREASURER’S CHECK, OR WIRE TRANSFER
In the event you are required to bring funds to closing, we cannot accept personal checks or cash. If you prefer to wire your funds, please contact us for bank routing instructions.
If you will be bringing a proceeds check from another settlement, please contact us to verify the acceptance of those funds – we do not automatically accept all checks.
HAZARD INSURANCE POLICY AND PAID RECEIPT
A hazard policy, also known as homeowner’s insurance, with the lender designated as the insured holder of the mortgage, is required on most loans. Evidence of hazard insurance, including a paid receipt, must be provided prior to closing.
ALL PERSONS WHO HOLD TITLE TO THE PROPERTY OR WHO WILL BE PURCHASING THE PROPERTY MUST ATTEND CLOSING TO SIGN DOCUMENTS
State-specific laws may require the spouse of the parties in title, even though their name does not appear on the deed, to sign certain documents when obtaining a mortgage. If anyone is unable to attend closing, contact us to arrange a Power of Attorney or closing by mail.
If you have any further questions regarding the closing process, please do not hesitate to get in touch with 110 Title!