Avoiding Seller Common Closing Delays

Remember:  Prior planning prevents inconvenience.  Awareness of the following items will help to insure a smooth closing!


Loan Payoffs
Provide the title company with your current loan information so that they may order your payoff in time for closing.  They need the lender’s name, address and telephone number along with your loan number and when you make your last payment.  They may also need your social security number for verification to order the payoff.

Delinquent Taxes
Most title companies prefer to collect delinquent property taxes at closing. If you do pay them prior to closing, you must be able to furnish an original tax receipt to them prior to closing for verification.  Otherwise, these monies will be withheld from your sales proceeds until payment of these taxes can be confirmed.

Escrow Refunds
Any escrow/impound reserves held by your lender will not be netted from your payoff at closing.  Your lender will refund these monies after your payoff has cleared and an analysis of your escrow account has been completed.

Common Names
If you have a common surname, please complete the confidential information statement and return it to the title company prior to closing.

Power of Attorney
If either party intends to use a Power of Attorney at closing because you will not be there to sign:
A. The title company must approve the power of attorney prior to closing,
B. The original power of attorney must be delivered to the title company prior to closing as the original must be recorded with the county clerk with other closing documents.
The title company must be able to contact you via phone on the day of closing to be certain you are alive and well and have not revoked the power of attorney.

Out of Town Signing
If any documents for closing are not being signed at the title company:
A. All documents must be signed exactly as requested,
B. All documents must have proper notarization by an approved notary for the title company,
C. All documents notarized out of the United States must be notarized in English.

Marital Status
New Mexico is a community property state.  If you purchased your property when you were single and you have now married, the title company will require that your spouse join in the signing of the deed at closing.  If you are divorced and your divorce proceeding was handled in a county other than the county where the property is located, please provide a certified copy of the divorce decree delivered to the title company prior to closing.





Information provided by Fidelity National Title – “The Home Seller’s Guide”


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