What do I need to bring to Closing?
- Driver's License or State ID
- Social Security Number
- Certificate of Trust and Trust's Tax ID number (if applicable)
- Death Certificate (if applicable) It may also be a good idea to contact your Realtor (if applicable) and ask if they have any other conditions they require.
What expenses are typically my responsibility?
- Realtor commissions (if applicable)
- The Buyer's Owners Title Insurance policy
- Any outstanding Property Taxes
- Transfer Tax The Purchase Agreement defines these charges and we follow that foremost.
How are Property Taxes prorated?
Property Taxes in Saginaw County are based on the calendar year.
To calculate them we typically take the total amount for the year and divide that by 365 days. We then charge both Buyer and Seller for the number of days they will have each owned the property (based on the Closing date). With that said, sometimes different terms are agreed upon in the Purchase Agreement and we follow that first above any local practices.
What can I expect at Closing?
The Closing is where all of the parties involved in your transaction come together to pass the ownership from Seller to the Buyer. Traditionally the Closing involves Buyer/Seller, Realtors, and sometimes even the Lender. It lasts approximately one hour.Related video: What to Expect During the Closing Process