One of the main questions buyers ask me is "What do I need to bring to my closing?"

Here is what you need in list form:

1.  A valid drivers license or a US Passport will do.  If you have neither of these, then you will most likely need two proofs of picture ID, but always check with the title/settlement agent prior to closing.

2.  Proof of Property Hazard Insurance, i.e. fire, water, theft, liability--banks require you insure their collateral and name them as lien holder in case of loss.  Remember, the bank owns your home and you're paying them back with a monthly payment called a mortgage 'till t's all paid off and you get the title.  So, until that debt is repaid to the lender, you've got to play by their rules.

Did you know that the bank often puts a clause in the mortgage note giving them the right to inspect your home, with proper notice?  I've never heard of them actually stepping foot on anyone's home, but it's written in there.  It's also written in the mortgage documents that they require you to keep the property well maintained, again, to protect the asset from adverse evaluation beyond normal market fluctuations.

Most of the time your insurance provider will forward the Declerations Sheet (proof of insurance) directly to the settlement agent so you don't have to fuss with it.  Pay them the premium for a years coverage, and you're all set.

3. Money.  Bank certified funds for the amount that your settlement agent tells you is the summation of all your closing costs less your earnest money deposit. You should probably bring your checkbook, too, because oftentimes there is a "blip" that slightly changes figures and as long as this "blip" is less than $500 you can write a personal check for it made out to the settlement agent.

In the state of Virginia, your closing costs can include a dizzying array of charges:

                     * Appraisal Fee
                     * Credit Report
                     * Table Funding Fee
                     * Loan set-up fees
                     * Administrative Fee
                     * Mortgage Insurance
                     * Real estate taxes
                     * Settlement Fee
                     * Recording Fee
                     * County Tax stamps
                     * State Tax stamps
                     * Pest inspection report
                     * Survey
                     * Title insurance
                     * Processing fees
                     * Overnighting fees

Closings usually take around an hour to an hour and a half.  I always attend with my clients.  Usually the only other people there would be you and the title agent.  In Charlottesville, since until just recently a large proportion of closings were done by lawyers, it was practice to do separate buyer and seller closings.  Gratefully, with the advent of many reputable title companies in our area, this practice is slowly being reverted to the way the rest of the country does business--with buyer and seller and all agents to the transaction at the same table, at the same time.

I coach and counsel you through the entire process, from our original meeting, to drafting, submitting, and negotiating an offer, all the way to a successful close.  That's what I do.  And I love doing it.

And now, hiring me as your Buyer Agent just got a little sweeter with the introduction of my 20% Buyer Rebate Offer!  Good on ANY home you purchase through me.  For example, a $290,000 home would give you $1740 back at closing!  A $1,000,000  home would see you pocket $4000 back at closing.  Very nice.

So call me today, 434-220-2228, or e-mail, Fulton@kw.com  and we can discuss your real estate needs further.