STEPS THAT YOU CAN TAKE NOW TO COMPLY WITH YOUR CONTRACT AND TO AVOID DELAYS AT CLOSING LATER.
- Locate your Owner’s Title Insurance Policy. Be prepared to deliver a copy of it to your listing agent, and to your designated title company. This not only creates efficiencies, but also minimizes the risk of title objections. Your policy may also qualify for a re- issue credit discount! The Contract for Sale and Purchase also contains a provision regarding the Seller providing their existing title policy ( ) Completed.
- If you have them, locate your property Survey and Flood Elevation Certificate and deliver it to your listing agent and to your designated title company. Have you made improvements not reflected on this survey? ( ) Completed.
- Locate your mortgage statement (s) for loan information and bank contact information. This includes credit lines. See attached worksheet. ( ) Completed.
- If applicable, have Condominium and Homeowner’s Association contact information at hand. If your property is a condominium, be prepared to order the Declaration of Condominium, including Question and Answer Sheet, Governance Form, Current Year End Financial Information and any recorded Amendments. These items are required under the contract to be delivered to your purchaser and typically carry a fee payable to the management company. ( ) Completed. If you are in arrears on association payments, ask for a print out of the balance due and provide to listing agent. ( ) Completed.
- Find out if there are any open or expired permits on your home. They may exist prior to you purchasing your property, but MUST be closed out with the municipality prior to closing. Contact the City or County to obtain a permit history. Disclose any structures or repairs made without permits, or any other uncorrected building, environmental or safety code violation. If Selling “AS IS”, you will still need to disclose the status. ( ) Completed.
- If any parties to the transaction are not local and accessible, notify your listing agent so that arrangements can be made in advance to properly execute documents for closing before a notary public.
- All parties that are on the title (deed) to the property, and those added on subsequently by quit claim deed are necessary parties to sign the listing agreement, sales contract, and transfer documents. Also, on homestead property, if you are married, but your spouse is a non-title holder, he or she must sign the listing agreement, and the deed at closing as well.
- If you have any certified court judgments against you or another title holder, or any federal, state, or local tax liens, provide copies to listing agent and designated title agent. If they constitute title objections, they must be paid at closing to deliver marketable title to the buyer.
Please call any one of our Florida Title & Guarantee offices or Title Representatives to answer any other title related questions. It’s never too early to be properly prepared for a smooth sailing closing later! It would be our pleasure to assist you. For your convenience, we have also attached a form to assist you in completing your closing requirements.
Florida Title and Guarantee Staff
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