- What do I need to bring to closing?
A: Certified funds for closing costs and current photo identification.
- Does my spouse need to sign the loan documents?
A: If your spouse is not on the loan, he or she will still have to sign the deed of trust and Truth-in-Lending. If your spouse is a co-borrower, he or she will need to sign all of the loan documents.
- Do I need to obtain homeowner's insurance prior to closing?
A: Yes. Homeowner's insurance must be in place prior to closing.
- Do I have to obtain a survey for closing?
A: If the property you are purchasing is in a platted subdivision, your lender will not require a survey, however, you as an owner will not have title insurance coverage for matters of survey. If your property is an acreage tract (metes and bounds), then your lender will most likely require a survey so that they, and you, will have title insurance coverage for matters of survey and so that an accurate legal description can be obtained for the loan documents and the Warranty Deed.
- If I am separated and purchase property, will my spouse have a marital interest in the property?
A: Yes, if you do not have a recorded separation agreement with the correct free trader language or a recorded free trader agreement.
- Who pays the closing costs?
A: The closing costs paid by the Seller and Buyer are determined by the guidelines outlined in the purchase contract.
- What is the turnaround time for scheduling closing?
A: Approximately two weeks.
- When will I receive my recorded deed after closing?
A: Approximately two weeks, depending on the workload of the Register of Deeds.
- What is the cost for a residential real estate closing?
A: Please email Carolyn C. White, Real Estate Paralegal for fees and costs associated with residential real estate closings: Carolyn C. White.
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