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There are several things that you may need to bring to the closing. Here is a list of the most common closing requirements:

1. Certified Funds or a Cashier’s Check Payable to Yourself. We will calculate the amount you owe at closing based upon information given to us by you, your lender, and your Realtor. Although we may not know the exact amount until shortly before the closing due to missing information from others, Ohio law forbids title companies from disbursing funds unless the borrower’s funds, in excess of $1,000.00, are in the form of a cashier’s check, wire transfer or other “Good Funds.” Your cooperation in obtaining these funds is appreciated.

2. One Year’s Homeowner’s Policy and Paid Receipt (Not a “Binder”, unless your lender tells you otherwise). Your names as purchasers should appear on the policy, along with the property address. Your lender will give you a “mortgage clause” for your insurance agent to include. Always be sure you have coverage for at least your loan amount, as anything less will delay the closing. As a buyer, it is very important to let the title company know the amount of your hazard insurance annual premium as early as possible. Many lenders will not release their figures and loan package until this information is obtained. We, in turn, cannot give you the amount due at closing if we do not have this information.

3. Photo ID. All parties signing closing documents, whether buyers or sellers, must bring proof of identification to closing. Identification can be in the form of a driver’s license, work ID, or military ID card. The form of identification must include your name and photograph.

4. Any Inspection Reports or Conditions Required by the Lender for Closing. When the lender sends you a commitment letter, it may give you a list of closing preconditions. For instance, you may have to sell your present home or liquidate a 401K as a condition of the loan. Proof that this has occurred will need to be brought to closing.

Sellers should be prepared to provide account numbers, in advance of closing, for any mortgages or liens they may have against their property. Such liens include equity lines (even with a zero balance), because a mortgage will have been filed against the property.

The closing process usually takes about 30 minutes or so depending upon the lender’s loan documents to be signed. We at Lawyers Title strive to give you a brief but precise description of the documents that you are signing. Our experienced closing staff can answer almost any question regarding your closing and the documents that are being signed, although they are not permitted to give legal advice. No question is ever too “silly” or small. A very large investment is being made and the staff at Lawyers Title Agency of Dayton wants you to feel comfortable with your closing transaction.

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