Real estate transactions are often last-minute affairs.Loan funding is often done on the day prior to or the day of closing.Closings are often last-minute affairs and a rush to complete.
We prefer to avoid late afternoon or Friday closings if possible. If there is any delay with your closing it is often necessary to reschedule closing for the following day. If married; both the husband and wife must attend the closing unless prior arrangements have been made. If necessary “power of attorney” original documents should be provided to the attorney 5 days prior to close if possible
Be sure you know how to reach your lender in case they are needed during the closing.
Buyers must bring their driver’s license or passport (government issued photo ID). The attorney requires a photo I.D. to notarize several documents.
There will be MANY documents to sign at closing including but not limited to: Closing Disclosure, ALTA, Promissory Note, Payment Letter, Name Affidavit, Escrow Disclosure, Deed of Trust, Limited POA, Errors, Occupancy Affidavit, Truth in Lending, Itemization of Amount Financed (different lenders require different forms).
At the closing, the buyer will be required to bring funds (‘wired’ to the attorney’s office) for the amount due at closing. In addition, bring a blank personal check if there are any minor adjustments.
Once the attorney's office has your required funds, the funds from the lender, and all loan and real estate documents are signed, the attorney will record these documents with the county register of deeds. This makes everything official and the attorney can then disburse all funds to the seller and other vendors.
Once the documents are signed the deed and deed of trust (if applicable) will be recorded with the local county register of deeds.
The seller is not obligated to give you keys to your new home until the deed is recorded. Buyers usually return to the attorney’s office within a few hours after they have signed all of the paperwork to pick up the keys to the home.