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Real Estate
Closing Information

• Real Estate Purchase
• Mortgage Refinance
• General Sale and Refinance Requirements

General sale and refinance requirements Information

To expedite the closing of your sale or refinance transaction, please provide the following information, and prepare for closing, by complying with the following:

• Provide cashier's or certified check (payable to Olde Key Title or to yourself for endorsement to Olde Key Title) in the amount stated on the good faith estimate provided by your lender. We regret that personal checks over $1,000.00 cannot be accepted as we are required to disburse expeditiously, which does not allow for the time necessary for the clearing of checks. We will also accept most major credit cards.
• Provide an original homeowner's insurance binder or policy (naming your lender as the insured lender of record) to Olde Key Title (if you have not already provided it to your lender), along with a paid receipt for the first year's premium. If you are purchasing or refinancing a condominium, be sure to provide condo or property management company contact information so that a Certificate of Insurance may be obtained per your Lender's requirements. Most lenders require insurance information well in advance of closing.
• Contact the lender before the closing to confirm any additional requirements that must be satisfied prior to closing.
• Personal identification in the form of a driver's license or other government issued photo identification with your signature must be brought to the closing (for verification of identification). Some lenders require two types of identification so please be prepared. This is for your protection as well as the lenders' protection!
• If credit card balances are to be paid at the closing, the most current statements (with full account numbers and bar coded envelopes must be provided to Olde Key Title prior to closing.) This allows the creditors to promptly post payment to your account.
• SUBORDINATION AGREEMENTS: Should you wish to retain an existing loan already secured by your real property, your new lender will require the loan to be subordinated; both lenders must agree to subordination. Please advise right away as the agreement must be drafted, reviewed and approved by counsel and both lenders, then circulated among both lenders for signature before a Notary prior to settlement.
• POWERS OF ATTORNEY: Please advise as early as possible so the proper documents can be drafted, reviewed and approved by counsel and lender(s), then circulated for signature before a Notary prior to settlement.

Should you desire to contact us

Any questions should be directed to:
Lynn Caudle Boynton
Phone: (301) 294-3333
Fax: (301) 294-4905