What do I bring to closing?

• 2 forms of identification including a picture ID.
• Your spouse must attend if you are married and selling your property or if you are buying with financing, whether or not your spouse is taking title, due to dower
• Your homeowners insurance declaration page and receipt (if applicable).
• Certified funds for the down payment payable to either the title company or yourselves (you can endorse at the closing table.)

What can I expect to occur at a closing?

In Central Ohio, all parties to the transaction usually attend the closing. The closing agent will have the sellers sign a few documents including the closing statement, a closing affidavit about off-record matters, the deed transferring title to the buyers, and a 1099 exemption and/or substitute 1099 (tax forms required by the IRS).

The closing agent will next review the buyers’ documents with them, including any loan documents. If earnest money was given, a check from the selling agent may then be returned if not applied on the settlement statement. After all of this portion of the transaction has occurred and the borrower has remitted the down payment, the title company will disburse the proceeds and congratulate the buyer. After closing, the deed and mortgage will be taken to the courthouse to be filed with the county recorder. The final title policies will be issued as quickly as possible and sent to the buyers with the original recorded deed and to the lender with the original recorded mortgage.

How long will the closing last?

This will depend on the situation because there can be many variables. If there is a lender involved, the closing package can vary greatly in size. It can also be lengthened by the amount of conversation occurring at the table. Cash closings can close as quickly as five or ten minutes. Some conventional loan closing packages can vary between 30 minutes to an hour. In some instances, the lender requires certain executed documents to be faxed or e-mailed for review prior to disbursement of the proceeds.

Any other questions please call, fax or email:

• Fax Number: 349-9380
  
• Emails are found on our contact us page