While
your mortgage application is in process and TCS is working
on your title order, there are numerous things you need to
do:
1.
CONTACT
YOUR INSURANCE AGENT after signing the sales
agreement. Deciding on your agent and type of coverage
early in the transaction will save time when you are ready
to close.
a.
Consider
having your agent issue a binder to cover your hand money
and equitable interest in the real estate while you are
waiting for closing.
b.
When
you have selected an agent and policy, call your TCS
closing coordinator with their name and phone number.
c.
Make
arrangements to pay your homeowners insurance agent for
the first year of coverage on your new home as soon as
your closing is scheduled. Mortgage lenders require
evidence of insurance and a paid receipt for the first
year. Your TCS closing coordinator will collect this
information from your insurance agent.
2.
ORDER
ANY TESTS OR INSPECTIONS you would like to have
performed on the house you are purchasing. Be sure to
review a copy of any reports prior to closing. Make sure
you understand the content of the reports, and call the
inspector if you have any questions.
3.
IF
THE SALES AGREEMENT IS RENEGOTIATED for any reason
before closing, make sure your mortgage lender and TCS
closing coordinator receive a copy of the new terms. Most
mortgage lenders have restrictions or limits on seller
assistance. It's wise to explore these restrictions with
your lender early in the transaction while you still have
time to negotiate.
4.
WE
HIGHLY RECOMMEND THAT YOU ORDER A CURRENT UPDATED SURVEY
for the real estate. Although TCS does not require a
survey on most transactions, buying a survey before you
close is the ONLY way to actually know what you are
buying. For more information about surveys, click here.
5.
CALL
YOUR TCS CLOSING COORDINATOR when you are ready to
close. We do closings 8 to 8 Monday thru Friday and 10 to
5 on Saturday. We'll come to you at no extra charge.
6.
PREPARE
YOUR CASH TO CLOSE. Take a look at the official
"Good Faith Estimate" provided by your mortgage
lender. There should be a bottom line "cash to
close" figure. It should include all costs and the
balance of your down payment. Plan to get a cashiers check
or money order for closing. You may not get the actual
exact figure until the last minute, so plan ahead.
204 West Main Street, Ligonier,
PA 15658, Phone 888-680-5177, Fax 724-238-7830
Email: dcipa@tcsclosing.com
Copyright The Closing Specialists® 2000-2007. All rights reserved. The
name "The Closing Specialists," house logo, and
slogan "We Stay Open So You Can Close!" are registered
trademarks.
Click here for a printable version of this page