You’re almost there! The closing is the last step in the home buying and mortgage process!
The closing is where the magic happens! Buyers sign all their final documents, sellers sign the deed and other documents. Money is collected by our office, deposited and disbursed to take care of all the bills. We record the final documents with the Williams County Recorder and just like that, you’re a homeowner! Or NOT a homeowner, depending on which side you are on!
North Dakota is a table-funding state. What that means to you is that all funds must be in our account prior to disbursal.
The Good Funds Law, effective August 01, 2013 (NDCC 47-34), states that all funds being brought to closing totaling $50,000.00 or more must be sent via wire transfer.
Loan funds from a bank, savings and loan association, credit union or savings bank located in the SAME or contiguous County as the closing agent, may be brought in as a Cashier's Check for any amount.
Borrower Funds not to exceed $50,000.00 in the aggregate may be brought to closing in the form of a cashier’s check drawn on an existing account at a bank, savings and loan association, credit union or savings bank chartered under the laws of a state of the United States, located in North Dakota, Minnesota, Montana or South Dakota (NDCC 47-34-01.4e). Personal checks cannot be accepted at closing.
Click Here for North Dakota Century Code 47-34 for specific information regarding the Good Funds Law.
PLEASE NOTE: We require that all wires for purchase transactions be received no later than 60 minutes prior to our scheduled closing time, but preferably the day before closing. For refinance transactions, we will require receipt of wired funds no later than 2:00 p.m. on the day of disbursement to avoid any delay in funding.
DAY OF CLOSING
- Buyers and Sellers must bring their valid and unexpired drivers license or other government-issued photo identification. A copy must be placed in the file. Lenders will occasionally require 2 forms of photo ID, which could include a military ID or a Passport.
- Prior to closing, borrower/buyers need to make sure that they have met all required closing conditions for the lender and to confirm the funds they need to bring to close. Stay in contact with your lender!
- If you have any questions, please make sure to ask! We want you to be comfortable with the knowledge that you have. Check out our resource links and our blog to better your understanding of the process!
- Sit back and relax! We will take care of you!
- Lastly, save the champagne for later! Everyone must be peaceable and sober in order for us to notarize their signatures.
REVIEW AND TAG US!
If you choose, we would LOVE for you to help us by tagging us and reviewing your experience with us in the following ways or places:
- Like Us on Facebook @WilliamsCountyAbstract.
- Tag us or Check In @WilliamsCountyAbstract on Facebook with a picture of your super-excited faces! YOU JUST BOUGHT A HOME!!
- Frame your picture! We have a small selection of picture frames to use on your Facebook pictures!
- PROFILE PICTURE: Open Facebook, click to change your profile picture, choose Add Frame, search “WCAC” to find the filters and make your choice.
- CAMERA FRAME: Open Facebook, open Camera, touch the smiley face to the left of the shutter button, scroll to find our filters.
- Also make sure to either Tag us or Check In on the same post so that we can find it!
- Hashtag us! #WilliamsCountyAbstract
- Review us!
