If you are buying real estate and financing it with a mortgage from a lender we represent, please read the following important information:

As you know, our office represents your lender in the mortgage loan you have applied for to purchase your new home. We have commenced an examination of the title, ordered tax information from the Tax Collector and a mortgage survey plan for the lender's records. When these items are completed and reviewed by our staff, we will notify you to arrange a convenient time to close the loan. We will also advise you of any funds you may need to complete the transaction. You must bring a bank-issued certified check or cashier's check, made payable to yourself, for these funds. In addition you must bring with you to the closing a current photo ID, such as a drivers license or passport. This is crucial; we cannot complete your transaction without these.

Please review your Lender's commitment letter very carefully. If special conditions are required, they must be met to the satisfaction of your Lender prior to closing.

Please review the following instructions with respect to additional requirements that must be met prior to closing. If you have any questions or comments relative to the loan transaction, please do not hesitate to contact us by telephone, fax, or email.

1. INSURANCE:
(a) At the time of closing, please bring with you a Fire and Extended Coverage Insurance Policy or Binder for such insurance in an amount at least equal to the total of all outstanding mortgages on the property, or 100% of the replacement cost of all insurable buildings and other improvements on the land, whichever is less. If you are going to rely on the 100% replacement cost amount as sufficient insurance, then the policy or binder must state that 100% replacement cost is in effect.

(b) The insurance policy or binder must name all of the persons who will hold title to the property.

(c) The mortgage clause adding the mortgagee's insurable interest to all policies must be worded in accordance with the instructions listed in your commitment letter issued by your lender. It is imperative that the above language be on your insurance binder. Your insurance agent must FAX or deliver to our office a copy of a binder for such insurance along with a receipt showing that the first year's premium is paid in full, at least three (3) business days prior to closing.

2. TITLE INSURANCE:
A Lender's Policy of Title Insurance is required for this transaction, which we will obtain for you, at your expense. You may wish to purchase an Owner's Policy of Title Insurance, which we can also obtain on your behalf. If so, our office can certify the title to an insurance company. The premium for an Owner's Policy of Title Insurance can be quoted to you by calling the paralegal in our office handling your file. We highly recommend purchasing Owner's Title Insurance, for your own protection.

3. MANNER IN WHICH TITLE WILL BE HELD:
For an explanation of some options for how to hold title to real estate, please telephone our office and indicate how you would like to take title to the property. This information should be provided to us as quickly as possible, since many documents which we prepare require this information.