In Florida, the seller generally is responsible for providing clear title. The buyer generally pays for and selects the title agent. Once title has cleared, the Bank will send a Satisfaction of the Mortgage to the closing and title agent.
Once the loan is approved, the file goes to underwriting, before closing. Underwriting is the process where everything is reviewed and confirmed for closing. The title agent works with the bank to ensure that everything receives final approval and that the loan package is prepared. Banks do not typically get the loan packages to the closing agent until the day of closing..
What do the parties need to bring to closing? Two forms of picture identification for each person… and a smile.