Children
Small children should not be brought to settlement. Ordinarily the process will be completed within an hour. However, if unforeseen problems develop, a considerably longer time may be required. Please make arrangements to have children cared for during the settlement process. This will benefit you as well as others involved in the settlement.

Funds Required
You should plan to call the Settlement Agent's office the day before settlement, or even a few hours before settlement, to get the exact amount of funds you will be required to bring to settlement. If financing is involved, the Settlement Agent normally will not have the exact amount of funds required until two to three hours before settlement, because the Settlement Agent cannot compute the exact amount until receiving the lender's instructions, which usually arrive shortly before settlement. If necessary, you may add the estimate of closing costs provided by your agent or the lender's good faith estimate to the balance of the down payment shown on your contract to determine the approximate amount of funds required. In any event, the funds you bring to settlement must be by Certified or Cashier's Check. Personal checks, credit union checks, money market checks, or stock sale checks are not acceptable. Please call the Settlement Agent if you are in doubt. If you desire to wire the funds directly to the Settlement Agent's bank, please call the Settlement Agent's office to obtain wiring information. If you plan to "assign funds" from another settlement, you must obtain the agreement of the seller.

Utilities
You should call all utilities and place them in your name as of the date of settlement. In most cases the Seller will have asked for a final reading as of the same date. Failure to do so may result in your being unable to conduct a complete walkthrough inspection of the property.

Insurance
You must furnish to the lender, at least three days prior to settlement, a hazard insurance (also called homeowners insurance) policy in an amount at least equal to the amount of your loan, along with a receipt showing that the policy has been paid ahead for a full year. Please contact your lender to determine the exact wording for the "loss payee" clause to be inserted into the insurance policy. Although this requirement is not applicable for condominiums, you must provide to your lender a Certificate of Insurance from the Condominium Association showing that your Unit is covered by the Association's blanket policy. You may also wish to contact your own insurance agent for information regarding a "Unit Owners" policy for your own protection.

Survey
If lender financing is being obtained, a house location survey is always required and will generally be ordered for you by the Settlement Agent. Surveys are not required for condominiums.

Walkthrough
Shortly before settlement you should conduct a careful inspection of the property to ensure that all contract provisions have been met, particularly the operating condition of appliances, equipment, electrical sytems, and plumbing. You may ask your real estate agent, if you have one, for assistance. If all is not satisfactory, you should to demand a credit or escrow at settlement.

At settlement, your attorney will explain to you all of the settlement papers. These documents include (1) the deed, (2) the note which evidences the loan, (3) the deed of trust/mortgage which secures payment of the loan, (4) the settlement statements by which an accounting is made of the transaction, (5) the truth in lending statement by which the lending institution discloses all of the finance charges, (6) the survey (not always required) of the property showing any building restriction lines, easements or other encumbrances on the property, and (7) any other documents required by the lending institution or by the particular requirements of that settlement.
At settlement, the documents will be signed by the proper parties, and several of them will require notarization. The settling of the financial arrangements among the buyers, sellers, lender, sales agents and others will be explained by the settlement attorney and the transaction will be completed.
It is at settlement that the attorney's fees, recording fees, real estate commissions and all other fees agreed to in either the contract or the finance documents will be paid. It is required that the purchasers bring to settlement the balance of the down payment and required closing costs by certified or cashier's check or wired funds. Purchasers should call the settlement office a few hours before settlement for the exact amount of funds required for settlement.
Following Settlement