Frequently asked questions

What if I can't attend the closing?


If you are unable to attend your closing, for any reason, there are three options that will allow the closing to proceed as scheduled in your absence: 1. You could grant another person of your choosing limited power of attorney to appear at the closing on your behalf and sign all of the necessary documents. 2. You could request a remote closing, wherein your closing documents can be delivered to you via email or courier, along with instructions on how to complete the documents. You would be responsible to obtain the services of a local notary. A shipping label will be provided to you so that the executed documents are returned promptly to the correct location. 3. You could request a remote closing, wherein Springdale Title, LLC would hire a mobile notary to meet with you at your requested time and location to complete the documents. The documents would be delivered to the mobile notary and brought to the closing by the mobile notary. The mobile notary would also be responsible for returning the executed documents to Springdale Title, LLC on your behalf.




If I am required to bring funds to my closing, what form of payment is acceptable?


Each state has different requirements for the type of funds accepted from a buyer, borrower, or seller at the closing. Please refer to the chart below for acceptable forms of payment by state: Kentucky: cashiers/certified check, bank wire, money order Indiana: if you must bring more than $10,000 to the closing funds MUST be in the form of a wire. If funds are less than $10,000 funds may be in the form of a cashiers/certified check or bank wire. Ohio: if you must bring more than $5,000 to the closing funds MUST be in the form of a wire. If funds are less than $5,000 funds may be in the form of a cashiers/certified check or bank wire. Tennessee: cashiers/certified check, bank wire, money order Florida: cashiers/certified check, bank wire, money order




What are Seller Paid Closing Costs?


It is very common for a purchase contract to include an agreement that the seller will pay a portion of the buyer's closing costs. This means, that for instance, if a seller agreed to pay $2000 (or up to $2000) in closing costs, then any fees that are on the buyer's side of the settlement statement, up to $2000, will be paid for by the seller. Often times sellers are under the impression that seller paid closing costs only include fees charged to the buyer by the buyer's lender, but that impression is incorrect. ANY fee charged to the buyer can be included unless the purchase contract specifically limits seller paid closings costs to certain fees.




What are dower rights? (AKA Homestead Property)


Dower rights are the interest that a person has in real property owned by his or her spouse. For example: John owns a home. John is married to Jane. Jane is not on the Deed to John's home. Jane still has a dower/marital ownership interest in John's home simply because she is married to him even though she is not a party to the Deed. Dower rights are state specific. Kentucky: You cannot buy, sell or refinance a property without the consent of your spouse, who will be required to sign several documents at the closing, including the mortgage, even if your spouse is not on the Deed or will not be on the Deed upon purchasing the property. Tennessee: You cannot refinance your primary residence without the consent of your spouse, who will be required to sign several documents at closing, including the Deed of Trust, even if your spouse is not on the Deed. You can refinance a residence that is NOT your primary residence without the consent or signature of your spouse if your spouse is NOT on the Deed. You can purchase a property without your spouse's consent or signature if your spouse will not be on the Deed upon purchasing the property. You cannot sell your primary residence without the consent and signature of your spouse, even if your spouse is not on the Deed. You can sell a property that is NOT your primary residence without the consent and signature of your spouse if your spouse is NOT on the Deed. Indiana: You can sell or refinance a property without the consent or signature of your spouse if your spouse is not on the Deed. Florida: You cannot refinance your primary residence without the consent of your spouse, who will be required to sign several documents at closing, including the Mortgage, even if your spouse is not on the Deed. You can refinance a residence that is NOT your primary residence without the consent or signature of your spouse if your spouse is NOT on the Deed. You can purchase a property without your spouse's consent or signature if your spouse will not be on the Deed upon purchasing the property. You cannot sell your primary residence without the consent and signature of your spouse, even if your spouse is not on the Deed. You can sell a property that is NOT your primary residence without the consent and signature of your spouse if your spouse is NOT on the Deed. Ohio: You cannot buy, sell or refinance a property without the consent of your spouse, who will be required to sign several documents at the closing, including the mortgage, even if your spouse is not on the Deed or will not be on the Deed upon purchasing the property.




Why am I being required to order a survey on the property I am purchasing?


It is always a good idea to have a survey completed on property you are purchasing. A survey will detail the exact boundary lines of your property, allowing you to avoid costly litigation with neighboring property owners regarding boundary disputes, which most commonly arise due to the construction of a new fence or other structure. A survey will also ensure that there are no existing structures on your property that encroach on a neighboring property and vice versa. Further, a survey will pinpoint all easements and right of ways that may cross your property. However, just because it is prudent to obtain a survey, does not mean that it is always required. Usually a survey is required when a title insurance underwriter refuses to issue title insurance coverage without a surveying first being completed. In some states, such as Florida, a survey is required on every property transaction in order to obtain title insurance. In other states, some title insurance underwriters require a survey if the current legal description to the property is a metes and bounds description rather than a Plat. It is also very common for title insurance underwriters to require a survey to be completed on a newly constructed home to verify that the home is built on the correct lot, within the correct set back requirements, and without any encroachments on neighboring tracts of land. Lastly, if you are buying a property that used to be part of a larger tract of land, and that larger tract has been divided into smaller pieces, it is common for a survey to be required since boundary line mistakes frequently occur during the division of property.





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