Buying - Brown & Thompson, PLLC

If you are buying a home:

Congratulations on buying your new home! Brown & Thompson is thrilled to help guide you through the closing process and celebrate this milestone with you. Below are the steps you need to take to prepare for your closing.

Obtain your lender and fulfill their requirements for your loan. Remain in contact with your lender and your realtor as you go through the mortgage process. If there are changes to the sales contract, be sure to provide them to the lender and to the closing attorney’s office as soon as possible.
Select a hazard/homeowner’s insurance company. Decide if you will pay the first year’s premium before closing, or if you prefer for it to be collected at the closing. Be sure to provide proof of coverage to the closing attorney’s office before the closing date. You will need to bring your driver’s license and another form of government photo identification, such as a passport, to the closing. Brown & Thompson will email you a Buyer Information Questionnaire that should be completed as soon as possible.
Make the arrangements to transfer your required funds for closing. Your Closing Disclosure, provided by your Lender (if any) will help you determine the amount you will need to bring to closing. Brown & Thompson will provide you with a more accurate amount near your closing date.
If you will be wiring funds for closing, check with your banking institution well ahead of your closing date as some banks take up to one week to complete a wire transfer. You will need to initiate your wire transfer in plenty of time to have your funds reach our account before your closing date.
You may bring a cashiers, or certified check made payable to Brown & Thompson, PLLC for cash to close. Please note that we cannot accept checks made payable to the buyer.
Lender’s Title Insurance is required by all mortgage lenders. However, Owner’s Title Insurance is a small, one-time charge for the protection of one of your largest investments, as well as peace of mind. The insurance will protect the owner against any defects in title which may not have been detected by the title examination.
While many mortgage lenders no longer require surveys for real property purchases here in Kentucky, we strongly recommend that all home buyers purchase a survey for their new home. Please let your closing attorney know if you would like for a survey to be ordered. The typical cost is $575-$675.
If you are unable to attend your closing, please let us know if you want to set up a mail-away closing or if you would like to sign a Power of Attorney and have someone come to the closing to sign as your designated Attorney-in-Fact. Also, if only one spouse will be on the loan and you want to add your spouse to the title, please let us know so we can prepare a deed for you, and your spouse to sign at the closing.

Buyers Checklist

Obtain a lender & fulfill loan requirements.
Select a hazard/homeowner’s insurance company.
Provide proof of coverage to closing attorney’s office prior to closing date.
Complete Brown & Thompson’s Buyer Information Questionnaire.
Make arrangements for transfer of funds for closing.
If cash to close amount is greater than $5,000, funds must in the form of a cashier’s or certified check, or wired to our account.
If cash to close amount is less than $5,000, you may bring a personal, cashiers, or certified check made payable to Brown & Thompson, L.L.C.
Obtain Lender’s Title Insurance.
Decide if you want to purchase Owner’s Title Insurance (Note: we highly recommend purchasing an Owner’s Title Insurance Policy. If you would like more information about Title Insurance, click here or speak to one of our attorneys).
Notify your closing attorney if you want a survey to be ordered.
Sign a Power of Attorney or request a mail-away closing if you are unable to attend your closing.
Notify your closing attorney if your spouse is not on the loan but needs to be added to the title.
Be prepared to bring two forms of identification to closing.