You’ve worked, saved and searched. The survey and inspections are complete, your offer has been accepted and your closing appointment has been made. Now, what do you need to bring to your closing and take care of in advance to help the Highland Title + Escrow team keep everything smooth and seamless so you can be on your way?
- It starts before the appointment. Your lender is required to provide you with a Closing Disclosure at least three days before settlement. When you receive it, it’s better than estimates. There should be little change in the numbers before settlement. Check-in with your lender to talk about it. If you still have an outstanding bill or transaction, your lender can help you resolve it.
- During these three days, learn how your closing funds should be delivered. At Highland Title + Escrow, we accept wire transfers or cashier’s checks, but it’s also essential to check in with your bank regarding their policies for sending a wire or obtaining a cashier’s check. How much notice do they need? Do you need to go to the bank? Do they have a limit on the amount of money you can wire? You wouldn’t want your settlement to be held up by a time-restraining policy of which you weren’t aware.
- Choose to wire the funds for closing. We recommend wiring your final payment the day before settlement. Bigger banks might be able to wire right away, while smaller places may need more time. (Just a note…verify your wiring instructions to avoid wire fraud.) Also, confirm that the bank is sending a wire, not an ACH transfer. An ACH transfer is similar to a “bill pay” and is not considered “good funds” at the delivery time.
- Aim high. For your funds for closing, we recommend adding a cushion of $500-$1,000 for anything that might come up between wiring the money or having the cashier’s check prepared. If there is a last-minute change, such as a change in prorations or an additional bill that needs to be collected, that extra cushion keeps the settlement moving forward. If the money isn’t required, it will be returned to you. With that being said…
- Bring your wiring instructions and your checkbook. If you overpay and have your wiring instructions and checkbook, we can wire the money back to where it came from quickly.
- Bring some form of government-issued identification. You’ll need your actual driver’s license or passport. A copy won’t do.
So, let’s recap. At your closing appointment, you’ll need a form of government ID, certified funds and wiring instructions or your checkbook. That’s it! We’ll take care of the rest. After several verifications and signatures, your closing will be complete, and you’ll leave with your keys and the Highland Title + Escrow team celebrating beside you. Please reach out to us here with any questions.