Closing Tips
Our office will contact you, whether you are a buyer or a seller, or you are simply refinancing your existing mortgage, once we have been instructed to prepare your closing in order to obtain the following information:
-Your full name, date of birth, social security number, and marital status. We need this information in order to properly search the public records and to comply with Federal laws and Louisiana Law.
-Copy of the PURCHASE AGREEMENT, which we generally obtain from the real estate agents or the lender.
-The name of the LENDER you will be borrowing from for the transaction.
-Your INSURANCE agent's name and phone number. Your lender will advise our office whether flood insurance is required, you should inquire about this before the closing.
-If one of you will not be at the closing, a POWER OF ATTORNEY may be used, but must be reviewed prior to the closing and, if you are the buyer/borrower, approved by the lender. If you are from out-of-state you should allow our office to prepare the power of attorney so that it complies with state law.
-If there is an OWNER'S ASSOCIATION, we will need the name of the person to contact to determine if dues are paid, and whether the dues include insurance or taxes.
-The seller should provide the account number of their current mortgage in order that we can obtain a written PAYOFF letter from that lender prior to the closing.
-Typically the seller provides a wood destroying insect report (TERMITE REPORT) pursuant to the terms of the purchase agreement. We must review this before the closing, and ask that you fax or deliver a copy to our office prior to closing.
-Your lender may not require a SURVEY if the property is existing construction in an approved subdivision, we will ask if you would prefer to have a new survey for the closing. If the property is new construction, rural or acreage, then a survey must be obtained.
-Pursuant to Louisiana Law the closing agent will require the Purchaser to provide CERTIFIED FUNDS for the purchase of a property in order that the sale proceeds can be disbursed that day. We will discuss this with you and advise you an amount to obtain.
At closing we are required the discuss with you OWNER'S TITLE INSURANCE which you may consider purchasing. Owning real estate is one of the most precious values of freedom enjoyed in this country. When you decide to buy real estate, you want to be sure the property will be yours and that no one else will have any liens, claims or rights against your property. The lender will require you to purchase for their benefit a title insurance policy to insure their security interest in the property. The lender's policy does not provide you any protection. Just as lenders want security with their title policy, you should protect your equity in your property with a title policy. For a low one-time premium you can receive the protection of a title insurance policy against "hidden risks" or undiscovered interests. Ask us about owner's title insurance and we will provide you the information you need to make an informed decision.
IMPORTANT PHONE NUMBER
| Bellsouth | 557-6500 |
| B.R. Water Co. | 925-2011 |
| Entergy(GSU) | 769-8462 |
| Dixie Electric | 261-1221 |
| LA Gas Co. | 927-9892 |
| Garbage Collection | 927-1600 |
| Recycling | 272-0101 |
| Parish Water | 925-2001 |
| Cox Cable | 923-3500 |
| The Advocate | 388-0200 |
| Voter Registration | 389-3940 |
| Auto Registration | 925-6146 |
| Sheriff(EBR Parish) | 389-5000 |
| Tax Assessor | 389-3920 |
| Zip Code Info | 769-3700 |
| Clerk of Court (EBR) | 389-3979 |
| Clerk of Court (ASC) | 473-9866 |
| Clerk of Court (LIV) | 686-2216 |
| Clerk of Court (WBR) | 383-3078 |
| Schools | |
| East Baton Rouge | 358-3784 |
| Livingston | 686-7044 |
| Ascension | 621-2300 |
| LSU | 388-3202 |
| Southern | 771-4500 |