Florida Buyer Closing Checklist

 

BUYER’S PRE-CLOSING CHECKLIST FOR A SMOOTH CLOSING

  • Ensure that Elevation Title & Escrow Services has a fully-executed copy of the purchase and sales contract, including any and all amendments that may affect the purchase price, deposit, closing date, closing costs allocation and inspection periods. Such information is important in order for Elevation Title & Escrow Services to properly and accurately prepare the closing documents in a time-efficient manner and ensure a smooth closing for all parties.

  • Ensure that Elevation Title & Escrow Services is provided with the names and contact information of the purchaser’s lender.

  • Ensure that Elevation Title & Escrow Services is provided with all information regarding the purchaser’s homeowners’ insurance.

  • Confirm with Elevation Title & Escrow Services the proper spelling of all parties who will take title to the property, including any middle names or initials, and the marital status.

  • Allow yourself enough time between the time of the walk-through and the time of closing to resolve any issues that are discovered during the walk-through. It is important to have any issues resolved prior to the closing so that the closing can proceed smoothly.

  • If you are purchasing property where there is a homeowners association, confirm with your real estate agent as to whether or not association approval is required. If association approval is required, then prior to closing, you should coordinate with obtaining and completing any association application(s), providing the association with a copy of the purchase and sale contract, and scheduling any interview(s) that may be required for association approval. Elevation Title & Escrow Services will obtain and provide the buyer with a copy of the homeowners’ association documents prior to closing for review.

  • If the transaction involved a corporation, partnership, limited liability company, limited partnership, trust or other form of entity, Elevation Title & Escrow Services will need to be provided with copies of Articles of Incorporation, Resolutions, Certificate(s) of good standing, Partnership Agreement(s), Trust documents and the like prior to closing.

  • In the event that a party to the contract is not able to attending the closing, then Elevation Title & Escrow Services will either coordinate getting the closing documents signed by that party in advance of closing or review and obtain the necessary power of attorney from that party and coordinate with the attorney-in-fact to sign the closing documents at the closing. Elevation Title & Escrow Services is able and happy to assist in preparing a valid power of attorney for its customers.

  • Obtain all necessary insurance policies (Homeowners, Wind & Flood) and furnish a copy & paid-in-full receipt to Elevation Title & Escrow Services. If you are financing your purchase, your lender will normally require coverage in the minimum amount of the mortgage loan you are obtaining and must name your mortgage lender in the “mortgagee clause.” Once you set up your policy with your insurance agent, have your agent fax a copy of the declarations page to our office, along with a paid receipt, so that we can confirm this for the lender. Sometimes we are asked to remit payment as part of closing. If so, please make sure to furnish an invoice from your insurance agent along with their mailing address for payment.

  • Upon receiving a fully-signed purchase and sale contract, Elevation Title & Escrow Services will coordinate with all parties involved in the transaction and provide a “Critical Dates List” to all parties. The Critical Dates List will be a roadmap that will calendar certain deadlines for items to be completed by, such as due dates for earnest money deposit(s), inspections and walk-through, when certain applications need to be submitted, such as mortgage application and/or homeowners association approval, and closing date.

  • If a purchaser requests, or if a purchaser’s lender requires, a survey, Elevation Title & Escrow Services can order a survey from a registered land surveyor prior to your closing.

  • Prior to the closing date, Elevation Title & Escrow Services will circulate drafts of all closing documents for review. Upon review and approval of the closing documents, Elevation Title & Escrow Services will provide to the purchaser and purchaser’s lender wire instructions so that the closing funds can be readily available once all parties are at the closing to ensure a smooth closing. Please note that Elevation Title & Escrow Services cannot accept cash or a cashier’s check at the closing.

  • Elevation Title & Escrow Services will schedule a mutually-convenient time and date for the closing with all parties.

© 2018 Elevation Title

South Florida Office

Elevation Title

5531 N. University Drive, Suite 103
Coral Springs, Florida 33067

954-514-9944
877-570-4878

New York Office

Elevation Title

48 Wall Street, 11th Floor
New York, New York 10005

877-570-4878