Buyer Preparation for Real Estate Closing

Congratulations on the purchase of your new home!  Check out the information below so that you can be prepared for your closing.

Earnest Money

Many of the our agent partners will negotiate for Parkway Law Group to be both the earnest money holder, and the closing attorney, for their transactions. If we are holding your earnest money, please contact our office to confirm the wiring instructions. You can also complete this form to submit a request for us to send the instructions to you directly. Please note, we can only accept wire transfers for earnest money deposits. Checks (personal or certified), money orders, and cash can no longer be accepted.

Day of Closing

Please arrive early for your scheduled closing time, failure to arrive on time will delay both your closing and others. This is extremely inconsiderate for other individuals trying to buy their homes and will cause unnecessary stress among the parties. If our schedule is clear and both parties are present, we may be able to start your closing early and finish the exciting process of selling your home ahead of schedule.

What to Bring to Closing

Most lenders require two forms of identification. You will need to bring a valid government issued photo ID to closing such as a driver's license or passport. Then a secondary form of identification reflecting your name, it does not have to be a photo ID. Social Security and Insurance cards are a common choice, but it cannot be a debit or credit card. We will need to make a copy of both of your IDs for the file upon your arrival. It is important that neither of the IDs is expired.

Powers of Attorney

If you are unable to attend your closing you will need a Power of Attorney. You will need to contact your lender and Parkway Law Group to prepare a Power of Attorney prior to the closing date.  Your lender will need to approve the power of attorney, so please give at least 5 business days prior to the closing to complete this process.

Owner's Title Insurance

This is optional, but highly recommended, insurance is to protect the purchaser's ownership interest in the property.  A one-time premium is paid at closing.  Please see our Fee Calculator on the Home Page or contact our office for more information.

Funds for Closing

  • Funds above $5000.00 should be wired in advance of closing. Please call our office to confirm the wiring instructions sent to you by your pre-closer.
  • Amounts below $5000, must be either wired or in the form of a bank cashier's check. Checks should be made payable either Parkway Law Group or the purchaser(s). We cannot accept any personal checks or cash. 
  • Please contact our office if you have not received the amount of closing fees required for your closing prior to the closing date.
  • Be Aware of Wire Fraud: Do not wire any closing funds until you have confirmed the wire instructions with our firm.
  • You should not wire any funds, if directed, to any other bank or any other account name.
  • Please report any suspicious notices/activity to Parkway Law Group.

Homeowners Hazard Insurance

An original policy is required for closing (insurance binders are not acceptable). Dwelling coverage should be for full replacement cost of your home (variations must be approved by your lender).  Please fax the declaration page of the policy including your insurances agent's contact information prior to closing, along with the paid receipt or invoice. All borrowers on the loan documents must be the insured parties on the insurance policy.  Please contact our office if there are any changes to the policy premium amount that was previously provided to us.

Surveys (does not apply to a condominium unit purchase)

While surveys are not usually required by a lender, we recommend that a survey be done for the closing of any purchase transaction.  A survey may be ordered by the purchaser and will be reviewed by our firm at the purchaser's request.

Beware of Wire Fraud

& Fraudulent Wiring Instructions

Wire fraud, email hacking and phishing attacks are on the rise to bmisdirect funds for closings. ALWAYS call our office to confirm our instructions prior to sending any wire. NEVER respond or rely solely on wire instructions you receive by email, even if it appears to come from our office.  
Wiring instructions will only be sent once and only via secure email.  
We are not responsible for any wires sent by you to an incorrect bank account.