Jan. 14, 2007 - What to bring to your real estate closing!

At this point you will have a clear title commitment and will have completed any inspections etc. you wish to have on the property.

You will be required to pay all fees and closing cost in the form of "guaranteed funds" such as a Cashier's Check.  Your agent or escrow officer will notify you of the exact amount.   You will receive a closing document required by HUD that outlines the settlement cost. The title company prepares this document.   For additional information on HUD statements go here.  In a perfect real estate world you would receive this the day before closing so you would have time to go over it before closing.  Unfortunately real estate is not perfect I can't tell you how many times we get this from the title company at the closing table.  Should that happen you can bring a check using the figures your lender have come up with from your good faith statement.  Should you not bring enough money you can write a personal check to the title company for up to $1500.  On the flip side if you bring too much money the title company will cut you a check for the overage.

The other item you will need to bring is a picture ID such as your driver's license.  A number of years ago I had a client who was moving to another state.  He came back to Texas for the closing and to get his furniture.  A few days before closing I found out that he had turned in his driver's license to the other state and only had a piece of paper for a drivers license.  He did not have another picture ID.  Back then I talked the title company in to letting us get a membership at Sam's Club and using it as a picture ID.  As I told you this was quite a few years ago I'm not sure if that would fly today.  Long story short I highly recommend not turning in your driver's license if you are planning on buying a house unless you have another type of picture ID like a passport.