Thank you for selecting us to handle your real estate settlement. In order for us to reserve a specific time/date/location of your closing, please contact our office or have your real estate agent contact our office for a definite date and time.

In order for us to fully serve you in this transaction, we will need you to sign and return the purchaser information sheet fully completed. Please do this as soon as possible, as “time is of the essence.”

Most of the information requested is self explanatory, but some elaboration is needed with regard to “title insurance”. Lenders require that title insurance be taken in the amount of the loan to protect them should any claims against the property’s title arise. Such claims can occur from fraud, misfiling of court records, unrecorded title claims and other circumstances. As the buyer, you are entitled, and encouraged, to take title insurance as well. There are two levels of owners title insurance; the basic plan which covers the purchase price of the property and an enhanced plan that, among other protections, increases in coverage as the property value increases. Click here for a comparison between the “basic” owners and the “enhanced” owner’s title insurance coverage’s.

At this time, you will also need to obtain your homeowner/hazard - insurance. Please advise us as soon as possible of the company and your yearly premium amount. Your insurance company should be able to quote you over the phone an estimated amount you will need

It is our standard procedure to provide clients with a preliminary settlement statement (HUD-1) one or two days prior to settlement. We compile charges from many sources to complete your settlement sheet. If one of the sources does not have their costs available to us, it will delay the availability of the amount. If this occurs, we can use the “good faith estimate” from the lender, which estimates charges likely to be shown on the HUD. This Good Faith Estimate was likely provided to you during the loan approval process. Therefore, we are requesting that you send or fax the “good faith estimate” along with your response to this letter.

The HUD-1 will show you the amount of funds that you will need for settlement. Those funds must be “Good Funds”; meaning that they must be in our escrow account and available for withdrawal at the time of settlement in order for us to disburse. Please contact our office for wiring instructions to fund your purchase.

Please feel free to contact our office if you have any questions. We look forward to working with you.

Very truly yours,

Brennan Title Company