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Are You Prepared to Close? - What to Bring to the Closing Table

Reblogger
Real Estate Agent with Coldwell Banker, 170 N Main Street, New City NY 10956

Are You Prepared to Close? - What to Bring to the Closing Table

Congratulations!! You're about to purchase a home.  You've successfully negotiated the offer, completed inspections and appraisals, you have your mortgage commitment and you're cleared to close. 

The closing is cheduled and you need to come prepared.   Here's a great list by Toni Weidman for both buyers and sellers of what you need to do in preperation for the closing and what to bring with you to the closing table.

 

Original content by Toni Weidman
documents for closingThe sellers and buyers always ask (after the inspections, and appraisals are done): What do I need to bring to closing?


The Sellers want to know if they need to bring their deed, title policy, insurance policy?



1. Bring some form of photo i.d. (license works) for notarizing.
2. Don’t bother bringing your deed-a new one is issued to the buyer.
3. Bring any trust agreements-must be originals because they have to be 

ecorded with the deed.

4. It’s not necessary to bring the title insurance policy since a new one is issued.
5. If you have any appliance manuals, etc. please bring those for the buyers.
6. Bring keys, garage door openers, any thing that provides access to the  property.
7. After the closing, you will need to call your insurance company and cancel your insurance on the home. Do not do this prior to closing.


What do the buyers bring?

1. Bring some form of photo i.d.
2. Bring your game arm for signing if you are getting a loan-lots of paperwork.
And be sure to bring whatever documents your lender may have asked for.
3. Usually, the earnest money deposit is at the Title Company or your agent’s
office, and they will bring it.
4. Your new home (and flood insurance, if you need it) insurance binder. Your insurance company can fax or email it to the title company or you can bring it with you.
5. ***These days, the cash that you need to bring to closing (your down payment) is usually wired-in the day previous to closing. flying money
This is an important change from the days of bringing a cashiers or bank check.
Title companies have been badly burned in the past few years by counterfeit bank checks, and will no longer accept them at closing. Wiring the funds directly to the Title company account will guarantee funding of the closing: without funding-we can only do what is termed a dry closing: All papers are signed but no money is disbursed. And, usually no keys or possession of the home happens until the funds are disbursed.

And be sure to bring whatever documents your lender may have asked for.

Also, bring a healthy dose of patience and your sense of humor. Closings can take 2-3 hours these days if there is a loan involved.

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Toni Weidman
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Posted by

Lora "Leah" Stern - Your Rockland County, NY REALTOR of Choice - (914) 772-4528

Your Rockland County, NY Real Estate SpecialistLeah Stern Signature Photo

Lora "Leah" Stern
Real Estate Salesperson
Coldwell Banker Residential Brokerage
(914) 772-4528 CELL
(845) 634-0400 OFFICE
(862) 345-2463 FAX

If I can assist you in any way with your real estate needs in Suffern, NY Rockland County or the surrounding areas, please feel free to contact me by phone at (914) 772-4528, email me at Leah.Stern@cbmoves.com or visit my website .

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Comments (13)

Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

I just had a closing where the buyer was aggravated the title company wouldn't take his check. We live in a small town and EVERYONE takes a personal check. Except the title company, LOL.

Jun 22, 2011 03:40 PM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Tim - That wouldn't wash here (nor in most places).  No personal checks anymore.  Bank or cashier checks or certified.

Jun 22, 2011 03:49 PM
Bill & Cyndi Daves
Hiawassee, Young Harris, Blairsville, Hayesville, Murphy and Beyond! - Hiawassee, GA
TeamDAVES - Your REALTORS In the GA/NC Mountains!

Leah thank you for sharing Toni's article.  She makes some great points.  We too live in a small town but no personal checks and heaven forbid you bring CASH to the closing.  That totally puts everyone in a tail spin!

Jun 22, 2011 04:04 PM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Bill and Cyndi - Same goes for my town.  No personal checks and no cash and closings take 2-3 hours.

Jun 22, 2011 04:13 PM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Leah, This was a great re-blog since I missed Toni's original post. But, I will go over to view her original next.

Jun 22, 2011 04:15 PM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Jerry, thanks for stopping by and thanks for visiting Toni.  Glad you caught this reblog.  She does a great job of letting both the buyer and seller know how to come prepared.

Jun 22, 2011 04:19 PM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Nicely put together list for both buyers and sellers closings.

Jun 22, 2011 04:23 PM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

One more IMPORTANT item for Sellers' to bring to closing - the bank account information they want their funds wired to!

Jun 22, 2011 04:26 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Leah,

A post worth of re-blogging. This is a good list for both sellers and buyers. The wiring in of funds does catch some buyers off guard. They actually find it easier then getting a cashier's check and most like the change.

Jun 23, 2011 12:42 AM
Toni Weidman
Sailwinds Realty - Trinity, FL
20+ Years Selling Homes in New Port Richey, FL

Leah - thank you for the reblog! And Cyndi is right-don't even mention cash :)

Jun 23, 2011 01:04 AM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Michelle - great addition to the list and Toni gets the credit for putting it together so well.

Dori - I think the change is a great improvement and thank Toni for the great list.

Toni - This is one instant where cash is a dirty word.  Thanks for the great post.

 

Jun 23, 2011 03:04 PM
Charlottesville Solutions
Charlottesville Solutions - Charlottesville, VA

This is worth a reblog (see Dorie above)

very nice

your friend in Charlottesville

Jun 24, 2011 12:24 AM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Charles, thanks and visit Toni please to comment.

Jun 25, 2011 05:58 PM