Tips for Your Closing
Work with a fully executed contract.
A fully executed contract is critical for a successful closing. Make sure to specify a set closing date. Please contact us if you need help with the contract.
Know the marital status of all buyers and sellers.
Marital status is very important in the conveyance of property in Florida. Please note there is no legal separation in Florida; there is only married or single status. Divorced persons who remain on title as husband and wife claiming single status MUST provide copies of Court stamped Divorce Settlement papers or parties who were married and have not seen each other in 20 years have a legal interest in the other person's real property and they must appear on the deed and sign the mortgages. Claiming incorrect marital status is considered mortgage fraud even if they were unaware of the law.
Have all of the following information on hand.
- Existing Mortgage information
- Full names and contact numbers of all parties
- A fully executed contract
- Lender contact and phone number
- Homeowner/Condominium Association information
- Prior Owner Title Insurance policy (if available)
Is the property for sale part of an estate or in probate?
If an owner on property that is being sold is deceased, we will need a legible copy of the death certificate and probate documents in order to close. If the probate process is not complete, we can refer you or the seller to a competent Probate Attorney who can expedite the process.
Find out about all expenses at the beginning of the process.
Ask what ALL of your buying, selling or refinancing expenses will be in advance from realtors, mortgage brokers and lenders. That way, you may plan for how much money you will need at closing.
For more Tips For Your Closing, contact us today.