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Avoiding Common Closing Delays
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Remember - Prior planning prevents inconvenience. Awareness of the following items will help to insure a smooth closing.
Loan Payoffs
Provide the title company with your current loan information so they may order your payoff in time for closing. They need the lender's name, address and/or telephone number, your loan account number and when you made your last payment. Your lender will mail your original promissory note marked "Paid" after closing.
Tax Information
Most title companies prefer to collect delinquent property taxes at closing. If you do pay them prior to closing, you must be able to furnish an original tax receipt, to the Title Company, otherwise these monies may be withheld from your sales proceeds until payment of these taxes can be confirmed.
Escrow Funds
Any escrow/impound reserves held by your lender will not be netted from your payoff at closing. Your lender will refund these monies after your payoff has cleared and an analysis of your escrow/impound account has been completed. |
Common Names
If you have a common surname, contact the title company prior to closing for possible additional requirements.
Power of Attorney
If either party intends to use a Power of Attorney at closing; i.e., will not be there to sign.
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The title company must approve the Power of Attorney prior to closing
- The original Power of Attorney must be delivered to the title
company prior to closing, as the original must be recorded with the County Clerk ahead of all other closing documents.
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The title company must be able to contact you via telephone on the day of closing to be certain you are alive and well and have not revoked the Power of Attorney.
Out of Town Mailouts
If any documents must be mailed out for signatures:
All documents must have proper notarization.
Any documents mailed out of the country must be notarized in English.
Marital Status
If you are divorced it may be necessary to deliver the certified copy of the divorce decree to the Title Company prior to closing.
Things to Bring to Closing
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Bring picture identification with you to closing (your driver's license will be acceptable).
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You must have your social security numbers available for closing as your sale must be reported to the Internal Revenue Service.
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Please bring any extra house keys, garage door openers, security access gate card keys with you to closing to give to the buyers.
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Any operating guides for your appliances which are remaining with the property or any warranty materials should be left at the property or given to the buyers at closing.
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If you have extra wallpaper or paint that was used at the property, please leave these materials for the new owners -they may need to do paint or wallpaper touch up after they move in.
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