Whether you are buying a property or refinancing a current loan there are certain
documents that you need to have in place before settlement.
Buyers Checklist
- A current picture ID card is required from all buyers and sellers at closing. Excalibur Title& Escrow will accept a driver's license, military ID or state issued ID Card.
- Proof of homeowners insurance (hazard insurance) must be provided prior to closing. Excalibur Title & Escrow will accept the original policy or the binder with a paid receipt.
- Powers of attorney must be approved be approved by lender and the title company prior to settlement.
- If funds other than lender funds are included in the settlement, the borrower must bring those funds in the form of a certified bank check payable to Excalibur Title & Escrow, LLC or make arrangements to have the funds wired to our account prior to closing. If you wish to wire funds, please contact our office directly for wire transfer information.
Refinance Checklist
- Please provide a list of credit cards, vehicle loans, or other loans that are to be paid from closing proceeds, and include copies of your most recent statement or bill for each such account. Please ensure that the statements include account numbers and addresses for all of the payoffs.
- A current photo ID is required from all buyers in the transaction. Excalibur Title& Escrow will accept a driver's license, military ID or state issued ID Card.
- If funds other than lender funds are included in the settlement, the borrower must bring those funds in the form of a certified bank check payable to Excalibur Title & Escrow, LLC or make arrangements to have the funds wired to our account prior to closing. If you wish to wire funds, please contact our office directly for wire transfer information.
- In a refinance transaction where the new loan is provided by a lender other than the current lender, by law the borrower has the right to rescind (cancel) the loan within three days after closing. As a result of the three day right of rescission, refinance transactions are not funded by the new lender until the three day period has expired. Please make sure that you factor in the three days for your planning purposes. Excalibur Title & Escrow can not release any monies until the 3 day right of rescission has expired.
