1. Do I need certified funds at closing?
2. How long will the closing last?
3. What if I cannot attend the closing?
4. Do both spouses need to attend the closing?
5. Why do you need to seller's Social Security Number and mortgage account information?
6. What do I need to bring to the closing?
7. What are the advantages of having an attorney handle the closing instead of a title company?
8. Who do I make my closing check payable to?
9. What if I am buying a house and selling my house on the same day? How is this handled?
10. Does your office handle other types of legal matters?

1. Do I need certified funds at closing?
At closing you will need a cashier's check for any amount above $10,000.00. WE can estimate your bottom line prior to closing so you can get a cashier's check (made payable to Gardner Escrow) ahead of time and then write a personal check for any difference between the estimate and your actual bottom line. If your bottom line at closing is less than $10,000.00 you can write a personal check.

2. How long will the closing last?
Less than an hour unless we tell too many stories or are having too much fun.

3. What if I cannot attend the closing?
It is very important for the Buyer to attend the closing. But if that is not possible you can have someone appointed as your Power of Attorney. We need this information at least a few days before closing so we can prepare the Power of Attorney and have it signed by you and notarized. The Power of Attorney will need to attend the closing for you. Check with your lender as some lenders do not allow the Buyer to not attend the closing.
If a seller needs to appoint a Power of Attorney we also need to know that several days before the closing. Also we need to know the sellers social security number before closing.

4. Do both spouses need to attend the closing?
Both spouses need to attend the closing. Even if you bought the property as a single person and are now married, your spouse will need to sign the deed at the closing. When buying property, both spouses need to sign the mortgage, even if the loan is only in the name of one spouse.

5. Why do you need the seller's Social Security Number and mortgage account information?
We need the seller's social security number and mortgage loan information (who the payments are made to, account number, phone number) in order to get the mortgage payoff from the lender. The sooner we can get this information from the seller or your agent, the better. Most lenders require a social security number before they will release the payoff information. We also need the seller's social security for tax reporting purposes at closing.

6. What do I need to bring to the closing?
Please bring to the closing a smile and a pleasant attitude. Be happy - you are buying a house! Also - please bring your check book, a cashier's check if applicable (see above), photo I.D., any requirements your lender may have requested such as the settlement statement from the sale of your existing home. If in doubt, bring it to the closing - better to have it and not need it than to need it and not have it.

7. What are the advantages of having an attorney handle the closing instead of a title company?
An attorney handling a closing not only handles the duties of having the closing documents executed properly but can also advise you on applications of Kentucky law and your rights and responsibilities under the law. A non-attorney is not permitted to render legal advice to a Buyer/Borrower because to do so would be practicing law without a license. So, for about the same money you can have your closing handled by a professionally educated person who is capable and permitted to give you legal advice.
Additionally the Escrow accounts of attorneys are much more regulated than those of title companies. An attorneys Escrow account (the place your down payment and the loan proceeds are deposited) is monitored not only by the particular bank, but also by the Kentucky Bar Association. This helps to insure that the funds needed for a closing are properly applied and that your money ends up where it is supposed to be.

8. Why do I make my closing check payable to?
Please make your checks payable to the Gardner Escrow account.

9. What if I am buying a house and selling my house on the same day? How is this handled?
When buying and selling either the same or the next day how you handle the sale proceeds becomes very important. Instead of depositing into your bank the proceeds from the sale of your home, you should take your sale proceeds check to the closing where you are the purchaser. Be sure to check with the closing attorney - but most will follow this procedure. Otherwise by depositing your proceeds check into your bank, those funds may not be available for your use for several days.

10. Does your office handle other types of legal matters?
This firm handles residential and commercial real estate closings. Also, we handle other types of financial transactions. We prepare and review leases, contracts, agreements and other documents of a legal nature where your rights might be in jeopardy. Wills and limited probate matters are also handled by this office.