Below you will find the Top Ten List for a Smooth and Successful Closing:
- As soon as the Offer to Purchase and Contract are signed contact the closing attorney to secure their services and a closing date.
- Make sure that your Offer to Purchase and Contract contains the appropriate legal descriptions and verbiage. Consult your attorney with questions before execution of legal documents.
- Make sure that you obtain all property inspections in a timely manner.
- Secure homeowner’s insurance (hazard insurance) and share this information with the Closing Attorney as soon as possible (at least 7 days prior to closing).
- Make sure the funds you present at the closing table are “good funds.” “Good funds” are funds that receive immediate credit to the attorney’s lending institution that maintains his trust account. Certified funds, wire transfers or cash are the only funds given immediate credit.
- Confirm your attendance at closing. If you will not be present make sure that you alert the closing attorney, lender and realtor as soon as possible so appropriate arrangements can be made.
- If a manufactured or modular home is on your property, make sure your realtor checks the status of the title to determine whether the home is considered part of the real estate.
- It is best to use a local lender or broker. Lenders with knowledge of the local area may offer skills to make your transaction run smoother.
- Prior to closing determine how you wish to hold the title to the property. (i.e., husband and wife, individually, corporate, trust or other entity)
- Obtain as much information from the Seller as soon as possible (i.e., title insurance and survey) communicating this information to the closing attorney.
