In an effort to make your closing go as smoothly as possible and to avoid potential problems and delays, here are a few points to consider before your next First Community Title closing:
Items to consider or provide prior to the closing:
Contact your lender – Before the closing, contact your lender regarding any additional requirements that must be satisfied prior to closing.
Current Payoff Letter(s) – If you have an existing mortgage(s), a current payoff letter(s) must be presented several days prior to closing. Contact your lender for instructions on how to obtain current payoff statement(s).
Items to consider or provide at the closing:
Homeowners Insurance Policy – Bring an original Homeowners Insurance Policy to the closing along with a paid receipt for the first year’s premium. If you’re refinancing a condo, bring a Certificate of Insurance instead. A Certificate of Insurance can be obtained from your condo association or property management company.
Assessment Letters – If your property is a condo, bring to the closing an assessment letter from your condo association or property management company.
Closing Disclosure/Settlement Statement – If you are the buyer and just recently/simultaneously sold your other home, please bring in the Closing Disclosure/Settlement Statement from that sale with said sales proceeds payable to First Community Title.
Cashier’s or Certified Check – Bring a Cashier’s or Certified Check to the closing for the amounts you must pay, not a personal check. It must be payable to First Community Title. If the amount is $50,000 or over, it must be wired (Illinois Good Funds Law). Please contact your closing office for wiring instructions.
Government Issued Identification – Bring to the closing a government issued form of personal identification that includes your picture and signature.