Buyers Agent:
*If you know who the buyer is going to use as their lender let the Title Company know at the time that you turn in your contract
*Same with the Residential Service Agreement, if and when you know who the buyer will use, let the Title Company know so that they can order it for you.
*Make sure the Buyer is getting Homeowners Insurance in place
*Only certified funds are accepted over $1500.00 (in Texas) so the buyer will need to get a wire or cashiers check payable to The Title Company.
*Buyer will need to bring Drivers License to closing
*It is always good, and I make it a practice to attempt to get copies from the lender for the buyers review at least 24 hours in advance. This way, for one... the papers will be READY and in ORDER for closing plus the buyers can check the interest rate, payment amount etc. before they actually come in to sign.
Sellers Agent:
*The Title Company will need the loan number, who payments are made to and the last four digits of the sellers social security number so that they can order payoff statements from the existing lender.
*If there is a dead person in title let the Title Company know as soon as possible (we have to check for wills, probates etc.) It is also good for the Title Company to know ahead of time if there is a divorce pending or if there has been a bankruptcy.
*If an existing survey is being used make sure it is supplied to the title company. If there is no existing survey the title company will need to know that as well.
*Find out if the seller would like to have their proceeds wired or if they would like a check. If they want a wire they will need to bring a voided check or deposit slip to closing.
*If there is a spouse that was not in title but the seller is married now.. The Title Company would need to get a non homestead affidavit or the new spouse would have to sign the papers.
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