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Select your title company. Provide Title Company with Settlement Information:
- Copy of the Real Estate Contract
- Name/phone number of Mortgage Company
- Name/phone number of Loan Officer
- Your current address (for pre-settlement correspondence with the title company)
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Prepare for settlement by obtaining necessary insurance coverage. For properties other than
condominiums, you must have an original homeowner’s insurance policy at settlement with a
paid receipt for the first year’s premium. The dwelling coverage must be at least the loan
amount. Contact the lender for specific requirements. |
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Verify all of Lender's requirements have been met. Check with your loan officer or lender representative and verify that the lender has all requirements on hand. |
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Determine amount of funds necessary to complete closing. You must obtain a certified,
cashier’s or treasurer’s check for the balance due at closing. The check may be made
payable to yourself (for endorsement) or to the title company. |
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Ask your settlement company for a final HUD-1 Settlement Statement as soon as the
settlement coordinator is in receipt of your lender’s final instructions. |
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Bring your photo I.D. It is required by the lender, the title insurance company and the notary public that you furnish a government issued photo I.D (e.g., driver's license or passport.) If you do not bring this to closing, a delay in closing or in the disbursement of funds and exchange of keys may result. |
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Order a Termite Certification. If a wood infestation report is required by the contract, or the lender, confirm with the responsible party that it has been ordered and is "clear." |
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Contact utility companies after settlement. You will need to make sure that all utility
companies are aware that you will be the new property owner as of the date of settlement. |
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