What Should I Bring to My Closing?
2. A valid form of photo identification. Such identification can be a state issued driver’s license; passport or state issued ID card. Note that some lenders require two (2) forms of identification.
3. If the property being sold is the Seller’s primary residence, you will need to bring your spouse, if married, to execute certain closing documents because of the Florida homestead laws.
4. Due to the homestead laws in Florida, a spouse will be required to join in and execute the Mortgage even if that spouse is not signing the Promissory Note as a borrower. Therefore, that spouse must attend the closing.
5. If you are moving into a condominium or planned unit development that requires association approval, you will need to bring the original, executed Certificate of Approval so that it can be recorded in the Public Records along with the conveyance instruments.
6. Copies of all receipts relative to the repairs the Seller performed to the property so that they can be delivered to the Buyer accordingly.
7. All house keys, garage and gate remote controls, transponders, gate entry cards, etc., for the property and associated common areas, as applicable.
Tips For Avoiding Problems at Closing
2. Be sure to effectuate your cash-to-close wire transfer to Princeton Title & Escrow, LLC, prior to your scheduled closing.
3. Ask your lender if a Seller may pay “prepaid items” for the Buyer.
4. Ask your lender if they allow any credits to appear on the closing statement (i.e., closing cost credits, repair credits, real estate commission credits).
5. Be sure your lender has approved any special contract terms (i.e., Seller leaseback, Seller financing, purchase price allocation, the purchase of personal property, executing loan documents with a Power of Attorney).
6. If the property is owned by a Trust (revocable or irrevocable), be prepared to furnish Princeton Title & Escrow, LLC, with a copy of the trust documentation and all amendments thereof as the title underwriter will require us to review this material.
7. If the Seller is a non-U.S. citizen (individual or entity), there may be a FIRPTA withholding requirement as it relates to the Internal Revenue Service. Be prepared to discuss this matter with the attorneys and staff at Princeton Title & Escrow, LLC, and to engage an accountant to assist with this process.
8. If an Estate sale, make sure to discuss any potential probate issues with the attorneys and staff at Princeton Title & Escrow, LLC.
9. If using a Power of Attorney to execute documents it must be approved by our office and perhaps the lender, if applicable, and the original may need to be recorded in the Public Records.