Borrower Checklist

Ferguson McManamy strongly recommends that buyers bring the following items to the closing.

1. Certified Funds – Georgia Wet Funds Legislation requires “Good Funds”. By law, Closing Attorney can accept a maximum of $5,000.00 in personal funds. Check with the Law Firm, some have a lower threshold they will accept. Certified check can be made payable to the firm or to the borrower and then endorsed to the closing firm.
2. Picture Identification – Some form of picture ID will be required – Drivers license or Passport is acceptable. If neither of these is available, get prior ok from attorney.
3. Original Hazard Insurance Policy, usually in an amount not less than the loan amount. Must have proper Mortgagee clause and be dated on or before the closing date.
4. If executing Borrower documents by Power of Attorney, the original must be brought to closing (it must be recorded along with the Deed to Secure Debt). The form of Power of Attorney must be approved prior to closing by the attorney and the lender.
5. Any closing conditions required by the lender, such as original tax returns, closing statement from sale of previous home, pay stubs or gift letters.
6. Original Termite Letter (typically Seller brings, but lender will require) and if applicable septic and well water inspections (which may also be brought by the Seller).