FAQ's
Can I close after normal business hours, or at a different location?
Yes! We are happy to schedule closing times and locations that work best with your schedule.
How long will my closing take?
For a residential refinance transaction, we typically recommend planning for up to one hour. For a residential purchase, we plan for up to one and a half hours. Our goal is to make you feel comfortable with the documents you are signing, and we will never rush you through.
What do I need to bring to closing?
You will need to bring two forms of valid identification. One of these forms must be photo identification. This is typically a driver’s license, military ID or passport. The second form can be a voter registration card, concealed handgun permit, hunting license, employee or student ID, or utility bill.
How should I bring funds for closing?
Closing funds must come in the form of cashier’s check or bank wire. Cashier’s checks are available through your local bank. Any funds over $100,000.00 must be sent in the form of a bank wire. Please contact our office to discuss further details about cashier’s checks or for bank wiring instructions.
When will I know my final amount of funds to bring to closing?
Your lender is required to provide an estimate of closing costs three days prior to closing. Once this is received, our office will review these numbers and send out a final Closing Disclosure. This Closing Disclosure will reflect your final figure needed for closing.
Do I also need a real estate attorney for closing?
No. Pursuant to Virginia law, Section 55-525.18 and Section 55-525.19, a real estate settlement agent may conduct escrow, closing and settlement services for any real property located within the Commonwealth.
What is Title Insurance?
Title Insurance is a policy issued by an insurance company guaranteeing that the title to a parcel of real property is clear and properly in the name of the title owner, and that the owner has the right to deed the property to another. Should a problem later arise with the title, the insurance company will pay damages to the new title holder or secured lender, or take steps to correct the problem.
In simple terms, Title Insurance will:
› defend your title in court, at the company’s expense, as to covered matters
› bear the cost of settling the claim if it proves valid
› correct or clear the title when possible
› promptly pay you for your loss in the event of an unsuccessful defense of your title
Owners Title Insurance is a one-time premium, collected at closing, that stays in effect for as long as you own the property. Request a quote.