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CallRealtorMary.com
There's No Place Like Home!

Your Lake Shore Specialist Since 2001

Mary DuBois Adamek
(218) 820-0090

Closing on Your Home: Every Detail

Closing on Your Home: Every Detail

Before Closing

Agent
  • Delivers contract copies to all parties
  • Collects and forwards earnest money to listing agent
  • Coordinates home inspection
  • Follows up on all offer contingencies
  • Conducts final walk-through
Buyer
  • Locks in interest rate and continues loan process to final approval
  • Transmits personal information for closing online through a secure server using Secure Home FormsTM.
  • Obtains hazard insurance
  • Contacts utility and water companies, and homeowner’s association if applicable, to set account in their name
  • Arrange for wired funds for closing
  • Conducts walk-through inspection for property with agent
  • Accesses documents via our safe, secure, online HomeDocs™*
Mortgage Lender
  • Completes loan application; verifies employment, credit and funds to close; file is analyzed and underwriting decision is given; funds for appraisal and credit report are collected.
  • Orders appraisal and title work
  • Re-verifies funds needed to close
  • Sends closing documents and loan proceeds check to lender’s closing agent
Seller
  • Satisfies inspection contingencies
  • Answers questions on title commitment
  • Accesses document via our safe, secure, online HomeDocs™*

Title Services

Buyers’ Side
  • Orders title commitment, schedules closing, and notifies all parties
  • Prepares and reviews title commitment
  • Prepares CD and closing documents and submits to lender for approval
Sellers’ Side
  • Obtains title documents, association information and payoff figures for current mortgages; Title commitment is reviewed
  • Drafts seller documents and sends CD to buyer’s closer and listing agent

At Closing

  • Buyer, seller, closers and agents all attend closing
  • Closer conducts closing
  • Closers review and explain all closing documents and buyers and sellers sign
  • Closers notarize closing documents and provide copies (copies are also available electronically through our safe, secure HomeDocs™ system)
  • Closer provides information on Homesteading and how to apply

After Closing

Buyer
  • Applies for homesteading if applicable, with the appropriate county office
Mortgage
  • Receives closing documents, prepares file for loan servicing
Title Company
  • Submits all required documents for recording
  • Issues final title insurance policy