830 3rd. Street Gretna, Louisiana 70053
contact@secondlinetitle.com
+1 225 439 6060
830 3rd. Street Gretna, Louisiana 70053 contact@secondlinetitle.com+1 225 439 6060FAQ's
What Do I Need to Do Prior to the Closing?
Before a closing for a property can occur, the buyer has certain responsibilities, including getting a title search, obtaining title insurance, getting a termite inspection and securing homeowner's insurance. Ask your real estate agent or broker to give you a checklist of items you need to take care of before your closing date.
What's the Purpose of the Title Search?
Before closing, homeowners are required to complete a title search on the property they plan to purchase. The title search determines whether there are any liens, judgments, mortgages or taxes on a property, if there are land restrictions and if there is interest in the property.
What Do I Need to Bring to the Closing?
Before the closing date, ask your agent what you need to bring with you to ensure that the process goes smoothly. Your agent may ask you bring proof of homeowner's insurance, termite inspection results and a photo identification card.
How Long Does the Closing Process Take?
The closing process can be time-consuming, as you will receive a lot of information about your new home and mortgage and be asked to sign a variety of forms. Ask your agent how long the closing process typically takes, on average. This information is beneficial in the event that you need to take off of work or secure longer childcare hours. Bank Rate suggests that most closings take at least an hour, but can run longer.
What Documents Will I Sign on My Closing Day?
When you sit in the office with your real estate agent on closing day, you are going to sign a number of documents that help finalize the sale of your home. Ask your agent to detail what types of documents you can expect to see and sign. Some forms include the truth in lending statement, monthly payment letter and mortgage forms.
How Are Closing Costs Calculated?
Closing costs include a host of fees and expenses, some of which all homeowners pay and others that are paid depending on the location of your home. The U.S. Department of Housing and Urban Development lists attorney's or escrow fees, property taxes, interest, loan origination fee, recording fees, survey fee, title insurance, loan discount points, first payment, homeowner's insurance receipts and documentation preparation fees. Before going to closing, ask your agent what each of these fees mean, and if there are others that are included with your home's closing costs.