JUNE-JULY
2023
DEAR AGENTS AND VALUES CUSTOMERS — In an ideal world, closing on your home would be as simple as signing on the dotted line, but in reality there is a lot to navigate in order to ensure a smooth settlement. This month’s newsletter offers some top tips for making the closing process swift and seamless for both buyers and sellers. Sincerely, Laura Bowers, Managing Director
Simple Guide to a Smooth Closing Provided by MSC Title T O P
T I P S
F O R
1. If the property you are selling is your primary
residence, be prepared to have your spouse sign closing documents, even if he or she does not officially hold title.
2. Please ensure that you have signed the contract with
your full and legal name. If you are not the person listed on the most recent deed of record, you will need to provide documentation and reason why.
3. You will be asked to provide information regarding any
T H E
S E L L E R
Embassy are best. All notarization must be translated to English.
7. If you are not a U.S. citizen, expect 10%–15% of the
purchase price of the property to be withheld from your proceeds and remitted to the IRS pursuant to The Foreign Investment Real Property Tax Act (FIRPTA). We recommend you consult with your accountant to discuss all options available.
and all mortgages you may have on the property including lender name, loan number, and when/where the next payments will be made.
8. You will need to provide your social security number
4. Be prepared to pay off and clear any judgments, tax
9. If you are using a Power of Attorney, please make
liens, etc. that are filed against you and are attached to the property.
5. If you will not attend closing, please advise us
immediately and provide an email or physical address where we can send closing documents to be signed for via overnight delivery.
6. If outside the U.S., you must have documents signed by an official who has a seal and title of notary public. Documents notarized by a notary public at the U.S.
and forwarding address to us. This is required for forms you will need to sign at closing. sure that it has been approved by us first. We will also need to know the reason why you are using it. The original must be provided for recording and will be returned to you.
10. If the buyer of your property is obtaining financing
and they will not attend the closing, the official closing and funding will not occur on the closing date, but one or two days later. Most lenders will not allow borrowers to sign prior to the closing date, with the exception of MSC Mortgage.
MSC Title, Inc | 1605 Main Street, Suite 500 | Sarasota, FL 34236 | 941.552.5211
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