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Funding

Funding

The Signing

When the lender is ready to “close” your loan, or “fund” it, your real estate agent and your mortgage broker will have you sign the final loan documents. Signing will typically take place in front of a notary or an escrow officer. Ask your mortgage broker if there is anything you need to do to prepare for this, such as bringing a photo ID or perhaps a cashiers’ check if you are purchasing real estate. Allow yourself enough time to review the documents for accuracy.

If funds are being wired: “Wiring instructions” direct the electronic transfer of money between financial companies. If possible, arrange to have the wiring instructions in place ahead of time and checked for accuracy by both the sender and recipient of the wire. It is critical that these instructions be exact, and even so, delays are all too common

Congratulations!

Your mortgage broker will probably call you to confirm that the money has been transferred and the loan has closed. Always follow up with a phone call to confirm that your loan funds went where they were supposed to go. It is a good idea to keep recorded of this critical phase of the transaction once completed.

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Neumann+Dunn is a full service, boutique real estate firm with 30+ agents covering the Richmond metropolitan area and surrounding regions. Our brokerage and our experienced and talented realtors offer an authentic approach to our services. We get to know every necessary detail of our clients in order to meet their goals, dreams, and real estate expectations.

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