Whom should we call if we have questions?
Your Realtor will answer questions about your Purchase & Sale Agreement. Your Loan
Officer will answer all questions about your loan status, the conditions of your loan, and
the loan process. The Talon Group will help or direct you with any other questions. We
understand you will have questions and we are dedicated to helping you in any way we can.
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When do we sign the closing documents?
Closing documents are typically signed at least two days before the Closing Date.
Remember, the Closing Date is different from the Signing appointment. The Closing Date is
negotiated between the Buyer and Seller at the beginning of the transaction. However,
several things could delay that date, including the Lender not approving the loan, not
making the commitment, or not preparing the documents for escrow in time for us to perform
our duties. Its best to stay in close contact with your Loan Officer throughout the loan
process to ensure your file is proceeding according to schedule.
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Can we sign after normal business hours?
Yes, we try to make special arrangements to accommodate difficult schedules. However, we
strongly encourage you to make arrangements to sign at our office during regular business
hours. Questions or changes often arise during signing that require immediate access to
our network. Signing in our office affords us the flexibility to effect any changes
necessary to make sure Closing happens on time.
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When do we make the appointment to sign?
We will contact Buyers and Sellers shortly after the Lender has delivered the loan
documents needed to close. This is usually several days before closing.
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Should I tell someone if we're going to be out of town at all?
YES! Please notify The Talon Group of any travel plans. Closing can still take place on
time even if you travel frequently. This may require the preparation of a Power of
Attorney for your transaction.
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What can we do to make sure our transaction closes on time?
You can help enormously by promptly responding to requests for information. Also, it is
critical that Buyers keep in close contact with their Loan Officer to make sure your loan
is being processed in a timely manner.
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When does the Seller get the proceeds from the sale?
After Closing documents have been signed by both Buyers and Sellers, The Talon Group
returns the loan documents to the Lender for review and recording, then forwarded to the
Title company. The Lender then wires the loan proceeds to The Talon Group. As soon as the
Title company records the documents at the County courthouse, The Talon Group disburses
all funds. Recording occurs on the day of Closing, usually two or three days after
Signing. Proceeds are usually available the afternoon of recording or the next day. You
can pick up your check in person, we can mail it to you, or we can make the deposit into
your bank via bank wire.
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How much money do we bring to our Signing appointment?
When The Talon Group receives the loan package from the Lender, it is accompanied by
instructions for us to prepare figures. We will then know precisely how much money is
needed. Once the Signing appointments are set and the Closing Date confirmed, we will
compute the exact amount. We will call you ahead of Signing with the amount so you have
time to get a cashier's check.
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Do I need to bring a cashier's check?
Yes. We cannot accept personal checks. We can only accept a cashier's check drawn on any
Washington state bank payable to "The Talon Group. Trust Account." Or, if
you prefer, you may transfer the funds electronically via bank wire between your bank and
our trust account. Let us know if you would prefer electronic transfer so we can make sure
you have the proper details.
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Is there anything we should bring to the Signing besides a cashier's check?
Since we will be notarizing your documents, you will need to provide valid picture
identification. Your driver's license is best.
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How long does the Signing appointment take?
Usually 30-minutes-to-an-hour for Buyers, and 15-30 minutes for Sellers, depending on the
complexity of the transaction.
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Can we bring our children to the Signing appointment?
Yes. However, as you might imagine, it is exceedingly difficult for kids to sit through a
signing, especially if it runs long. But if you think they can do it, they're certainly
welcome.
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After we sell this house, we're going to use the proceeds to purchase another. Is
there anything we can do to make the next purchase go smoothly?
The smoothest possible scenario is to have The Talon Group perform the closing for both
transactions. Should this be the case, we can immediately credit your sale proceeds toward
your new purchase.
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Should we stop making payments on our current loan?
No. Sellers should continue making regular payments on the existing loan. As part of the
escrow process, The Talon Group will order written pay-off statements to ensure the proper
amount of principal and interest are paid at closing.
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Does The Talon Group need copies of pest inspections?
Yes, if a pest inspection is required by the Lender. In that case, we will need both
preliminary and final inspection reports. Both Buyers and Sellers will sign the reports at
closing, then we will forward the signed copies to the Lender. Note: The Talon Group can
pay the inspection company out of your proceeds if you wish.
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Who handles the transfer of utilities?
The Sellers are responsible for making sure we have the account numbers from all lien-able
utilities, such as water, sewer, etc. Under Washington State law, these utilities may be
paid out of the Seller's proceeds if we are so instructed by the Seller. The Buyers are
responsible for calling and opening their own utility accounts.
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What happens to any other leased equipment already in use on the property... Like
water heaters, security systems, and others?
The parties will state how this is to be handled in the Purchase & Sale Agreement.
Leased equipment is normally paid off at closing, and will be charged to either Buyers or
Sellers, depending on their agreement.
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When and how do we get the keys to our new property?
Buyers should coordinate the delivery of keys with your Realtor. Keys are usually
available on the Closing Date as instructed in the Purchase & Sale Agreement.
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Will The Talon Group notify me when the property closes?
Yes, we call the Buyers, Sellers, and their Agents as soon as we receive proceeds from the
Lender and the Title company notifies us of recording.
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Who pays the escrow fee?
The escrow fee is paid in equal parts between the Buyer and Seller, with the exception of
a VA transaction (on which the Seller pays the entire fee). The fee is paid at closing.
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Why is Title insurance required?
Title insurance insures that the Sellers hold clear title to the property being sold.
Lenders insist that Buyers carry Title insurance as protection from unforeseen claims
against the Lender's security interest.
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Who chooses the Title insurance company?
Technically, you do. However, in reality this decision is often influenced by the Realtor
and/or The Talon Group. We will be happy to consult with you and determine which Title
company best meets the needs of your transaction. The sooner The Talon Group gets the
Title report, the sooner we can make sure there are no problems that will cancel or cause
a delay of your transaction. Please make sure to set up your transaction (with your
Realtor's guidance) with The Talon Group immediately after obtaining a signed Purchase
& Sale Agreement.
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Who pays for Title insurance?
Payment of title insurance fees are negotiated by the Buyers and Sellers when the Purchase
& Sale Agreement is drawn up. Usually, the Seller pays for the Owner's policy, the
Buyer pays for the Lender policy.
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Does The Talon Group require a copy of the Appraisal?
No. The Lender usually orders the appraisal. Buyers can request a copy from the Loan
Officer.
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