What's Expected of the Borrower on or Before Closing?

Insurance
You will need to obtain a homeowner's insurance policy for the property you are purchasing. This is required by your lender. The agent of your choice needs to call Masterpiece Title with information regarding your new policy as quickly as possible. This information is essential for the title company to prepare final closing figures.
Remember if you are purchasing a house during hurricane season try to make arrangements ahead of time to purchase your insurance and pay for the policy. This will keep you from having to delay closing if a storm is brewing and they stop writing insurance during that time.

Cashier's Check
A cashier's check is required for any final closing cost amounts over $500.00 and should be made payable to Masterpiece Title. If you want to wire funds please contact the closer and they will give you wiring instructions.

Identification
At closing, you will be asked for a copy of your Driver's License, or some other form of identification that disclosed your picture and signature.

Miscellaneous
If you or anyone that is part of your transaction will not be available to attend the closing, you must notify Masterpiece Title at least 3 days prior to closing. The absent person will be required to execute a “Specific Power of Attorney” to appoint someone to sign on their behalf in order to allow the closing to continue without that person being present. Please remember the Power of Attorney must be approved by Masterpiece Title and your lender if you are getting a mortgage! Some lenders do not allow the use of a Power of Attorney!

If you are the sole owner of the subject property but are married, and this is going to be your homestead property, your spouse will be required to sign the Mortgage only to waive any rights they may have in the property. The spouse is not indebted for repayment of the note only to waive any interest. That spouse will also need to provide a copy of their Driver's License, or some other form of identification that discloses their picture and signature.

Remember marital status is very important when you sign a mortgage for property in Florida. Please note there is no legal separation in Florida only married or single status. Divorced persons claiming single status MUST provide copies of Court stamped Divorce Settlement papers. Even parties who were married and have not seen each other in 20 years have a legal interest in the other person's homestead property and they must sign the mortgage. Claiming incorrect marital status is considered mortgage fraud even if there were unaware of the law.