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Buying a Home: What to Bring to the Closing Table

September 4th, 2014 | by Michelle
real estate closing - shutterstock_77660200

Illustration / Shutterstock

Expert agents at Briggs Freeman Sotheby’s International Realty make the entire real estate experience extraordinary, helping navigate the real estate process from listing to closing. Once the deal has been sealed, use these smart tips for a smooth and successful closing.

Bring complete identification (valid, government-issued ID) to closing, including any person signing with a power of attorney.

If your transaction is linked to another closing (if you’re selling and using the proceeds on another purchase), let your escrow officer know so he or she can coordinate all the moving parts.

Alert your escrow officer if there are any changes to your marital status since signing the contract—ideally, prior to sitting down at the closing table.

If a party to the contract is using a power of attorney, make sure the title company has the original executed document at or prior to closing. Also, the title company is legally required to contact the person granting the power of attorney on the day of closing—make sure this person is available and expecting the call.

For monies due of more than $1,500, plan to bring “good funds” to the closing table: in other words, a wire transfer or cashier’s check. (Note that a bank “ACH” transfer is not the same as a wire transfer and can cause lengthy delays.)

Verify with your lender how funds will be delivered and notify your agent, who will make sure all parties know what to expect at the closing.

– Information provide by Independence Title

Click here to see the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with six offices in Dallas, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake

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