Buyer/Borrower's Closing Information

1. Property Insurance: Select an insurance agent and obtain and pay for an insurance binder on the property you are purchasing or contact us to obtain reasonable quotes for you. You will need to provide proof of insurance and payment thereof to the mortgage lender and a copy to us in advance of closing. In the event the property you are purchasing is a condominium, the structure of the building may be covered by the Association for fire and other hazards. You may need to furnish the mortgage lender with evidence of this master insurance policy. However, the master policy does not cover the contents of the interior of the unit. Therefore, you may wish to consider obtaining a Condominium Owner's Insurance Policy.
2. Survey of the Property: When refinancing, you will need to provide us with a copy of your survey, if you have one available to you. Alternatively, our office will order a survey.
3. New Mortgage: If you are obtaining a mortgage to purchase the property, please advise us as to the name and contact information of your mortgage lender. Your lender and our company will work in conjunction with one another in order to obtain all necessary documents for the closing, and also to complete the Closing Settlement Statement. Once the Closing Settlement Statement is approved by your lender, exact closing figures will be furnished to you.
4. Closing Funds: You will need a locally drawn cashier's check for closing. The check should be made payable to Experienced Title Solutions, Inc. Alternatively, you may wire transfer the funds directly from your bank to our trust account. If wiring funds, please contact us for wire instructions.
5. Photo Identification: It is required that each Borrower bring to closing an official form of identification which includes a photo, such as your Driver's License or Passport.
6. Condominium or Homeowner's Association Approval: If you are purchasing a Condominium or a property governed by an Association, you may be required to file an application with the Condominium/Homeowner's Association for approval as a Purchaser within the time frame provided for in your contact. Once you are approved, please have the Association issue to you the Certificate of Approval. You must bring this Certificate to closing, as it needs to be recorded with the deed. You should also receive from the Seller a set of the Association's governing documents.
7. Remote Closing: If you cannot attend the closing, please advise us as soon as possible to allow sufficient time to coordinate a remote closing. This will allow our Company to coordinate with a remote notary for signing.
8. Closing date: This is the date on the purchase contract or the date for signing the refinance documents. We will contact you with a proposed closing date upon notification from the lender.
9. Title to your Property: Your name will appear on the title to your property as set forth on the contract or on the mortgage lender's instruction sheet. If you desire any other variation, please contact us.
10. Costs Advanced: In order for you to meet your contractual obligations in a timely manner, and to comply with your lender's requirements, this office will request a title search, a title examination, municipal lien search, survey of the property, and account information from the Association, if applicable. Our office will advance the funds for these necessary items. Payment for the costs that pertain to the Purchaser will be reflected on your closing statement

Seller's Closing Information

1. Locate your Owner's Title Insurance Policy. Be prepared to deliver it to your listing agent, who will forward it to your designated closing agent. This not only creates efficiencies, but also minimizes the risk of title objections. Your policy may also qualify for a re-issue credit discount!
2. If you have them, locate your property Survey and Flood Elevation Certificate and provide this to your listing agent, who will forward it to the closing agent and other parties requesting same.
3. Locate your mortgage statement (s) for loan information and bank contact information. This includes credit lines.
4. If applicable, have Condominium and Homeowner's Association contact information at hand. If your property is a condominium, be prepared to order the Declaration of Condominium, including Question and Answer Sheet, Current Year End Financial Information and any recorded Amendments. These items are required under the contract to be delivered to your purchaser.
5. Experienced Title Solutions, Inc. will find out if there are any open or expired permits on your home. They may exist prior to you purchasing your property, but MUST be closed out with the municipality prior to closing.
6. If any parties to the transaction are not local and accessible, notify your listing agent so that arrangements can be made in advance to properly execute documents for closing.
7. All parties that are on the title to the property, and those added on by quit claim deed are necessary parties to sign the transfer documents. Also, on homestead property, if you are married, but your spouse is a non-title holder, he or she must sign the deed at closing as well.
8. It is required that each Seller bring to closing an official form of identification which includes a photo, such as your Driver's License or Passport.

Please call Experienced Title Solutions, Inc. to answer any other title related questions. It's never too early to be properly prepared for a smooth sailing closing later! It would be our pleasure to assist you.