At Settlement

BUYERS:  Preparing for Settlement

You will be required to bring several items to the settlement (closing):

• A copy of a homeowner's insurance policy (for fire, theft, etc.) and a paid receipt representing one year's coverage - may be required prior to settlement
• Paid receipt for termite inspection
• Cashier's check/certified funds for the balance of the down payment & closing costs - payable to the settlement company
• Your checkbook (not required, but a very good idea)

Although the lender provides a Good Faith Estimate of Closing Costs as part of the loan application process, your settlement attorney or agent will also calculate for you approximately what you will owe.  In this fast-paced market, these numbers are often not finalized until settlement day.  If this happens, have your check cut in the amount your lender gave you - and, bring your check book because if this amount is slightly low, you can write a personal check to make up the difference.  If this amount is too high, you will receive a check from the settlement company. 

Contact me for a checklist detailing items included in closing costs (we cover this, in detail, in our initial buyer consultation meeting).  Some items may be tax-deductible.