Errors can also occur if
information on the contract does not match information on the loan application,
particularly the Purchaser's name and the property address. The Purchaser's
name needs to match exactly the name on the loan application, including the
spelling, middle initials, suffix, etc. Lenders and their underwriters are
reviewing items carefully. Accordingly, everyone in the signing process (the
realtor, lender, and settlement attorneys) should verify that the correct name
and address is on all documents. Distributing copies of the contract and all
addendums to everyone in the signing process will allow all the parties to look
out for any items that may delay closing.
P.S. Also be sure to send a
Real Estate Commission Distribution Statement to the Settlement Attorneys.
William D. Tucker, III
Tucker Griffin Barnes
Charlottesville, VA
434-973-7474
www.TGBLaw.com
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