Lawyers Settlement Services, LLC

Closing Checklist


Closing Checklist

What the buyer needs on or before closing

Homeowners' Insurance
You will need to obtain a homeowner's insurance policy for the property you are purchasing. If you are using a lender this is required. The insurance agent of your choice will need to give us your new policy binder as quickly as possible. This information is essential for the title company, as we need the cost for the final closing figures.

Cashier's Check
A cashier's check is required for all funds due at closing and should be made payable to Lawyers Settlement Services, LLC.  If you would prefer to wire the funds let us know in advance and we will give you the information that you need.  Extra cost may apply.

Identification
At closing, you will be asked for a copy of your Driver's License, or some other form of identification that includes your picture and signature.

Contractual Obligations
The sales contract should contain all agreements between the buyer and seller and must be signed. Any changes must be initialed by both parties. If you have any questions about any item in your contract, please discuss this with your real estate agent or attorney. 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 Lawyers Settlement Services, LLC as soon as possible so we can make other arrangements. The absent person will be required to execute a "Specific Power of Attorney" to appoint someone to sign on his or her behalf to permit 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 part of your transaction is in the process of bankruptcy, divorce or any other court proceedings, you must notify your Lender and Lawyers Settlement Services, LLC as soon as possible. These issues could take time to resolve and need to be handled prior to closing.

What the Seller needs on or before closing.

Mortgage Payoff Information
You will be required to pay off any and all existing liens on the subject property. You will need to sign an authorization for Lawyers Settlement Services, LLC so we can obtain your payoff amounts.  It must include names and phone numbers of all current mortgage holders and the loan numbers. It is necessary to supply this information as soon as possible, as it can take up to 5 - 7 working days to obtain the payoff amounts. 

Condominium Associations (if applicable)
If you are selling a condominium, you must provide the name of the condominium association, contact and phone number.

Transferring Deed
As the seller, you will be required to provide the deed conveying your interest in the property to the buyer. We would be happy to prepare the deed, on your behalf, upon your request for a reasonable fee.

Identification
At closing, you will be asked for a copy of your Driver's License, or some other form of identification that includes your picture and signature.

Miscellaneous
If you or anyone that is part of your transaction will not be available to attend the closing, you must notify Lawyers Settlement Services, LLC as soon as possible to make other arrangements. We will e-mail or deliver by overnight mail the original documents or the absent person will be required to execute a "Specific Power of Attorney" to appoint someone to sign on his or her behalf to permit the closing to continue without that person being present.

If you or anyone that is a part of your transaction is in the process of bankruptcy, divorce or any other court proceedings, or if an owner is deceased, you must notify Lawyers Settlement Services, LLC as soon as possible. These issues, among others, could take time to resolve and need to be handled prior to closing.

If you are the sole owner of the subject property but are married, your spouse will be required to sign the Warranty Deed to convey any homestead rights they may have in the property. Your spouse will also need to provide a copy of their Driver's License, or some other form of identification that includes their picture and signature.