Help Ensure You're Prepared for Closing
Closing day often evokes a range of emotion for everyone involved: sadness about ending a life chapter, excitement for what’s to come, and even a bit of anxiety anticipating the unknown. When you close at Hometown Title, Inc., you can focus on the positives knowing we are here to help you every step of the way — especially at closing.
To help you prepare for the big day and better ensure a smooth transaction, review the list below to see what you will need to bring with you.
A current, unexpired government-issued identification with a photograph and signature must be presented by all parties. This identification can include a state-issued Driver’s License or Photo ID, a U.S. Passport, a FOID card, and any other ID that meets the referenced requirements.
Any party required to bring funds to closing must deliver those funds at that time. All payments must be made payable to Hometown Title, Inc., and be in the form set forth below to comply with the Illinois Good Funds Law:
- Up to $49,999 – Cashier’s or certified check required.
- $50,000 and higher – Wire transfer required (accepted for smaller amounts); please contact our office for wire instructions.
Property Tax Bill
If real estate taxes for the property you are selling are due and payable at or shortly after the time of closing (usually between May and September), your tax bill/payment coupon should be brought to closing. It not only will simplify the payment process but also could save you a couple dollars in counties that require a fee for duplicate tax bills.
Keys, Garage Door Openers, and Alarm Codes
At the end of a typical sale transaction, the subject property will have a new owner who will need access to it. You should provide all keys, remotes, and codes necessary to complete the transfer of possession.
Lenders often require additional items from their borrowers at closing. Contact your loan officer prior to closing to get a list of any such requirements.
Other Helpful Tips
- Bring your glasses. You will be signing many documents and will want to be able to read them, so don’t forget your glasses at home.
- Allow plenty of time. A typical closing usually lasts 45 minutes to an hour, but some can go longer depending on the situation and/or lender. Schedule at least a couple hours in your day for the closing, so you don’t have to rush out early or arrive at your next stop late. In the end, giving yourself ample time will help minimize your stress.
- Minimize your distractions. You will be hearing a lot of information and signing a variety of legal documents. The fewer demands on your attention, the easier it will be for you, ultimately making the entire process more efficient for everyone.