WHAT'S EXPECTED OF THE BORROWER ON OR BEFORE CLOSING
Homeowners Insurance
You will need to obtain a homeowner's insurance policy for the property
you are purchasing. This is required by your lender. The agent of your
choice needs to call Mid
South Title with information regarding your new policy
as quickly as possible. This information is essential for the title company
to prepare the final closing figures.
A cashier's check is required for any final closing cost.
Identification
At closing, you will be asked for a copy of your Driver's License, or
some other form of identification that discloses your picture and signature.
Contractual
Obligations
The sales contract should contain all agreements between the buyer
and seller and must be signed and any changes initialed by both parties.
Mid
South Title will prepare and conduct your closing only
according to the terms agreed upon in your contract. If you have any questions
about any item in your contract, please discuss this with your real estate
agent. If possible, it is always best to get any issues resolved before
getting to the closing table.
Miscellaneous
If you or anyone that is a part of your transaction will not be available
to attend the closing, you must notify your lender and Mid
South Title at least 3 business day prior to closing.
The absent person will be required to execute a "Specific Power of
Attorney" to appoint someone to sign on their behalf in order to
allow the closing to continue without that person being present. This
procedure will also require the approval of your lender.
If you or anyone that is a part of your transaction is in the process of bankruptcy, divorce or any other court proceedings, you must notify your lender and Mid South Title as soon as possible. These issues could take time to resolve and need to be handled prior to closing.