Learn More

Process — Purchase Closing, Borrowers Side

Use the following list to organize your documents for a purchase closing on the borrowers side:

What needs done prior to closing?

• Comply with all lender requirements for approval of the new mortgage
• If this is a cash, seller financed or assumption contact Archer Land Title for information
• Determine your homeowners insurance needs.
• Confirm loss payee clause with the lender
• Contact your insurance agent to determine coverage needed
• Obtain an original insurance binder and the one year paid receipt
• Call Archer Land Title with premium amount
• Contact utility companies
• Contact Archer Land Title for special arrangements if all parties cannot be present at the time of closing

What do you need to bring to closing?

• Valid Government issued Picture ID
• Homeowners Insurance binder and one year paid receipt
• Cashier’s check payable to Archer Land Title, LLC for the down payment and closing costs (please check with your Closing Agent to verify the amount)
• Ten year history of past residences
• Any conditions or documents required by the mortgage lender

What will occur at closing?

• The closer will collect any required documentation that was not previously provided to your lender
• Final settlement statement will be reviewed and signed
• Closing documents will be review, signed, and notarized
• Owner’s title insurance is purchased (optional, but suggested)
• Information on homesteading your property is provided
• Funds are collected and disbursed
• Keys, garage door openers, etc are exchanged.