Learn About Closings
What is needed prior to scheduling a closing.
- A title search conducted by Atlantic Coast Title Company or the title company selected by the purchasers.
- Copy of an executed Purchase & Sale Agreement.
- Payoff amounts of all liens attached to the property.
- Homeowner’s insurance binder with annual premium amount either paid in advance or to be paid at closing.
- Real estate tax information.
- Clear to close from the lender.
What to expect when you reach the point of closing on your home!
If this is a financed transaction, the lender will provide Atlantic Coast Title with the terms, conditions and fees for the closing. We will work up a Settlement Statement to be approved by the lender. Once approved, we will contact the borrower with the amount needed for closing. You will need to bring the following to closing:
- Cashier’s or bank check payable to Atlantic Coast Title Company for the settlement costs.
- Unexpired picture identification such as a driver’s license or passport.
- Any outstanding conditions required by the Lender
At closing, you will be signing many documents including a Settlement Statement, Truth-In-Lending Disclosure, Note, and Mortgage. The Sellers will sign a deed conveying the property to the Purchasers. Both the deed and mortgage will be recorded at the appropriate Registry of Deeds after closing. Any miscellaneous matters such as oil prorations, handing out keys, etc., will be done once all documents are signed.
The folks at Atlantic Coast Title Company are always willing to answer any questions either pre-closing or post-closing! Our goal is to make your closing a pleasant and stress-free experience.