Home Buyers / Sellers What To Expect Your Closing Contact Us

What To Expect

BEST Title Solutions, Inc.

When you found your Piece of Paradise and your loan has been approved, there is only one more step to fulfill your dream – the closing. Your closing agent at BEST Title Solutions, Inc. will contact you for pertinent information for the deed, mortgage and other documents.

  • What is your marital status? If you are single, are you taking title as tenants in common or
    joint tenants?
  • What is the exact spelling of your name? Do you use a middle name or middle initials? What about Jr., Sr., II, III, etc.?
  • What insurance company are you purchasing your homeowner's insurance from? We will need the name of your insurance agent and the phone number.
  • What is the name of your Mortgage Company, loan officer and telephone number?

BEST Title Solutions, Inc. will gather information from you, your Insurance Agent, your Mortgage lender and your Realtor, if applicable, as well as from the title search and survey.

Closing Package Consists Of:

  1. HUD I Settlement Statement: This is a detailed breakdown of figures for both the Buyer and Seller. All of the funds from the closing are disbursed in accordance with this Statement.
    1. The Seller pays the real estate commission, any real estate taxes that are unpaid and any liens, including but not limited to mortgages, financing statements and judgments, if applicable, as well as all costs listed in the Contract that are to be paid by the Seller.
    2. The Buyer is charged for the closing costs from the lender and broker, costs for the title insurance and affiliated closing costs in connection with the loan, homeowner's insurance and escrow account for taxes and insurance, if required by the lender.
  2. Mortgage Note: Your promise to repay the funds loaned for the purchase of the property. All of the details of the loan are contained in the Note: the interest rate, term of the loan, the amount and how often the payments are due, as well as prepayment penalties and interest rate adjustments, if any.
  3. Mortgage Deed: The Mortgage Deed is recorded in the Public Records of the county where the property is located and is your pledge, granting the lender an interest in the real property until the note has been paid in full.
  4. Truth in Lending or Disclosure Statement: This document sets out the Annual Percentage Rate (APR). This number is normally higher than your interest rate because it contains a portion of the closing costs you are paying the lender and/or broker for the loan.
  5. Affidavits: These are sworn statements from the Buyer and/or Seller that are sometimes required to clear up items disclosed by the title search or required by the lender in connection with
    the new loan.
  6. Miscellaneous Documents: Most lenders have special forms to be signed by the parties to the transaction, inspection reports, and survey forms will be signed and accepted. Other documents such as name clarifications, property tax information, etc. may be included dependent upon the requirements of each individual transaction.

Contact BEST Title Solutions, Inc. today at 239-541-3388, or browse the website for more information about buyers / sellers or your closing.

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