Whether you are buying a property or refinancing a current loan there are certain documents that you need to have in place before settlement.
Buyer’s 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.
We need the name of your real estate agent and mortgage professional contact information
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.
Be sure that all lender requirements are all satisfied.
Seller’s Checklist
Please make sure Excalibur Title & Escrow, LLC is aware of any and all mortgages/liens on the property
Forward any contact information for condo and HOA associations
Please let title company know if there is any power of attorneys needed for settlement, POA’s must be approved by Title Insurance Company.
Is any of the sellers a non-Maryland resident?
Please give forwarding address, email and phone number where you can be reached, in case we must contact you for any reason.
We need the name of your real estate agent and his/her contact information
If owner is an entity the title will need the entities documentation.
If any of the owners are deceased a death certificate and estate documents will be required.
Bring your Photo ID to closing – acceptable forms of id’s – driver’s license, passport, or military id with photo
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.
Please forward contact information for you mortgage professional to title company.
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.
