If you are paying CASH for your closing you will receive your closing disclosure the week of closing.
If you have lender financing our office needs a loan package from the lender including instructions on the exact figures to put together your disclosure. Once we can do that and your lender has reviewed and approved the figures, at that time, we will send out a closing disclosure to the parties. Please make sure you have provided your lender with every piece of information they have requested and that you have forwarded to us every invoice and document that will affect the final numbers.
You will know the exact amount down to the penny once we have gotten final approval from your lender on your closing disclosure. Your lender will send you your final Closing Disclosure Statement listing your cash to close.
Amounts due from you at closing must be in the form as follows:
|$0-$1,000.00||Certified check will be accepted but we prefer a wire transfer|
|$1,000.01||Wire transfer only|
Please do not bring a check of any kind over $1,000.00 as we will not be able to accept this and you will be delayed in receiving your new keys. We recommend sending wires the day before closing to ensure that they have arrived by the time your closing is scheduled.
In North Carolina, any married person who is not on your loan has a marital interest in your Property. That person must sign certain loan documents to subordinate their automatic marital interest to the priority of the lien of the mortgage. For any additional questions on this issue please call our office.
If neither you nor your spouse will be present at closing and there is someone who can sign on your behalf, we can prepare and have you and your spouse sign a Power of Attorney to allow your designated person to sign on your behalf. This MUST be approved by your lender before closing. The Power of Attorney document must be limited and specific to the closing transaction.
In most cases, you receive your keys after the Deed has been recorded. This means that we have all funds, the Buyer and Seller have both come to our office to sign their required documentation, and any additional requirements by the Lender have been met.
Yes, electronic signatures are fine for the buyer’s checklist. The seller’s checklist must be signed in pen as it is required by some lenders to order payoffs.
A final survey is highly recommended but not required by our firm. Your lender may not require a new survey because their title insurance policy will protect them against coverage from loss or damage resulting from a condition that would have been shown on a new survey. Your owner policy will not offer this protection without a new survey. Any problem that would have been revealed on a survey will become your responsibility or liability.
Title insurance is an insurance policy that protects your ownership of your property. It assures you that your property is free from any defects, liens, or encumbrances that are not listed specifically on your policy. It is a one-time fee that can potentially save you thousands down the road.
We will automatically get you an Owner’s Policy of Title Insurance unless you tell us, in writing, at least 7 days before closing, that you do not want Title Insurance.
If a transaction fails to close through no fault of ours, our fee will be computed as follows:
|Before Start of your Title Examination||$250|
|After Start of Title Examination and Before Closing||$450|
|During or After Closing||$ Full fee and any additional costs|
Your responsibilities include providing your lender with all documentation they require promptly to avoid a delay in closing, obtaining a homeowners insurance policy at least ten (10) days before closing for the property you are purchasing, contracting for, and providing copies of any invoices related to your closing, providing those invoices to our office as soon as you receive them, notifying us in advance of any additional services our office will be required to render and attending closing on time.
You will need to bring 2 forms of identification, one of which should be a valid driver’s license or passport.
We ask that you arrive at our office for closing 10-15 minutes ahead of your appointment. For directions or questions, please call our office at (919) 871-0022.