9 Documents to Expect at Closing, Part 2

Closing day is a date you've been looking forward to for a long time. All you have to do is get through a huge stack of legal documents without getting carpal tunnel! As the best title company at the Lake of the Ozarks, Arrowhead Title knows exactly what documents are coming your way. Last week we talked about four of the major documents you can expect on your closing date. Read on to learn about five more documents you will want to be ready to review and sign. Call Arrowhead Title for a team you can trust - we would love to help you prepare for and navigate the closing process!

5) Title Documents

When you purchase your home, you are actually purchasing the right to the property. You won't technically own your home until it is paid off, but the title documents give you the legal right to the property. At this point in the closing process, the title has been thoroughly researched by the title company. During this search, any issues associated with the title should have come up. Make sure you have a great title company on your side to ensure the title search is thorough and accurately reported. At Arrowhead Title, we pride ourselves on our integrity and accuracy. We make sure you are well cared for and that your real estate transaction goes as smoothly as possible. 

6) Deed

While the title documents give you the right to the property, the deed is your proof of ownership. This is a document that is signed by the seller and should already be completed by the time you are at the table signing closing documents. The deed also describes the property in detail and legal terms. It is very important that this document is 100% accurate because it is the document that goes to the county recorder of deeds and officially adds you to the property's history. 

7) Affidavits

Affidavits are documents that you will sign to confirm that the information you have provided throughout the transaction is true to the best of your knowledge. There could be one or several of these documents throughout the closing process. If you have lied on any documents, be advised that it could not only cancel the loan, but it could also mean criminal charges could be brought against you. 

8) Initial Escrow Disclosure

This legal document is federally required for all real estate transactions. It details your financial responsibilities relating to your loan and escrow account. This will include a previously-disclosed deposit amount to fund the escrow account. This amount usually includes property taxes, homeowner's insurance, homeowner's association dues, PMI, and other charges associated with the purchase of the property. 

9) Transfer Tax Declaration

This document may or may not apply to you. Some states, counties, and municipalities impose a tax on the transfer of property. This document must be signed by both the buyer and seller to acknowledge/disclose the purchase price and calculated taxes that will apply.

Your Lake of the Ozarks Home Closing

Arrowhead Title is not only the best title company at the Lake of the Ozarks, but we are also dedicated to accuracy and integrity. Work with a team you can trust, call Arrowhead Title for your real estate transaction and we will make sure everything runs as smoothly as possible on your closing day. If you have any questions about the closing process and what to expect at your appointment, feel free to give us a call! 

The Lake of the Ozarks' Most Trusted Title Company

Where Accuracy Matters!

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750 Bagnell Dam Blvd Suite B
Lake Ozark, MO 65049