Common Title/Closing Issues

Who needs to be present at closing?

The simple answer is that anyone who has an interest in the property will need to be present at the closing.  This includes anyone who is on the deed to the property, or has an interest acquired by inheritance or other means.

We are often asked if a non-owning spouse must attend the closing. The answer to this question is typically “yes”. Always assume your spouse will need to be present unless told otherwise. 

When will I know how much money I need to close?

Once a closing date has been set, a closing disclosure or settlement statement will be prepared which will show the exact dollar amount you need to bring to closing. Don’t hesitate to call us with any questions or concerns about the amount. It is also a good idea to verify with us by phone the day before closing to make sure nothing has changed.

What type of funds will I need to close?

In order to insure “Good Funds” for the seller, we will require a Cashiers Check or Wire Transfer at or before closing. The bank will charge a nominal fee for wire transfers. We do not accept credit or debit cards at this time.

Should I get a Survey?

We always recommend a survey when you are purchasing real property, however, check with your seller/realtor and see if a survey has already been conducted or if the property is within a platted subdivision. A property that has been recently surveyed should not need a new survey unless something has changed.

My Lender is getting Title Insurance. Do I really need an Owners Policy?

True, your Lender does require title insurance on their mortgage/deed of trust, but that does not provide you with coverage, and only takes effect when the Lender suffers a loss. An Owners Policy is absolutely essential to your peace of mind and financial security, and under the right conditions, the cost of obtaining an Owners and Lenders together is greatly reduced.

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