BUYER’S AND SELLER’S INFORMATION SHEETS

Why does your closing team need the Buyer’s Information Sheet and the Seller’s Information Sheet completed and returned?

No one likes last-minute surprises and the completed information sheets provide important details to the closing team for an accurate and smooth closing. These forms are sent to your clients and returned via ClosingLock, a safe and secure platform and can be filled out electronically.

Both information sheets ask for the most current client contact information, marital status, and if everyone will be attending the closing in person.

The Seller Information Sheet asks for the name, loan number, and contact information for the existing lien holder. The form also requests the social security number of the main borrower and a signature that authorizes the closing team to order payoff documents. Lenders will not provide a payoff statement without this information and authorization. Another important question is, are all sellers United States citizens. If not, FIRPTA laws might apply.

The Buyer Information Sheet asks for new lender contact information so your closing team can be in touch with the new lender early and provide the information they need to process the loan. The form also alerts buyers to wire fraud risks and sets forth protocols that Heritage Title Company adheres to regarding wiring instructions.

The information sheets provide concise, relevant information and remove the need for repetitious emails between you, your clients, and your closing team.