Appraisal is complete, all of the inspections are finished and your mortgage lender and title insurance company are making sure that all of the i’s are dotted and t’s are crossed for settlement. So long as everyone is prepared you should be in and out in an hour or less.
Here’s a list of things that you’ll need to have with you on the big day!
1. Government issued photo ID (driver’s license, passport, military ID)
2. Unless you’ve made arrangements to wire the funds that you’ll need at closing to the title company ahead of time, you’ll need a certified check or a cashier’s check payable to the title company handling your closing. If it turns out that you brought too much money, the title company will write you a check for the difference.
3. A paid receipt for your homeowner’s insurance policy, or if it’s being paid at closing bring the invoice.
4. A personal check. Sometimes there will be minor adjustments for taxes, utilities or other miscellaneous items at the settlement table. Many title companies will accept a personal check to cover a small adjustment.
5. Original Power of Attorney (if applicable). If one or more of the borrowers/buyers is unable to attend closing and your lender has authorized the use of a POA, you must provide the original signed and notarized document to the title company.
6. All unpaid real estate tax bills, (seller only). All outstanding real estate tax bills will be paid current at closing. Although there are typically discounts if the bill is paid within a certain time frame, the bill is considered due and payable as soon as it’s been issued.
7. Keys and electric garage door openers, (seller only). Unless you’ve made arrangements to leave them at the property, final settlement is when you’ll turn the keys over to the new owner(s). Transferable utility or appliance contracts should be exchanged as well.
More helpful links as you plan for settlement: