- Certified Funds – Georgia Wet Funds
Legislation requires “Good Funds.” By
law, a Closing Attorney can accept a
maximum of $5,000.00 in personal funds.
However, it is the Policy of
Melanie R. Mayer, P.C. that funds
in excess of $1,000 must be paid by
certified check or wire.
Certified check can be made payable to
the firm or to the borrower and then
endorsed to the closing firm.
Picture Identification – Some form
of picture ID will be required – Drivers
license or Passport is acceptable. If
neither of these is available, get prior
ok from attorney.
Original Hazard Insurance Policy,
usually in an amount not less than the
loan amount. Must have proper Mortgagee
clause and be dated on or before the
closing date.
If executing Borrower documents by
Power of Attorney, the original must be
brought to closing (it must be recorded
along with the Deed to Secure Debt). The
form of Power of Attorney must be
approved prior to closing by the
attorney and the lender.
Any closing conditions required by
the lender, such as original tax
returns, closing statement from sale of
previous home, pay stubs or gift
letters.
Original Termite Letter (typically
Seller brings, but lender will require)
and if applicable septic and well water
inspections (which may also be brought
by the Seller).
|
