You're ready to buy your home. You've been working with a real estate professional, your offer has been accepted and now you're just preparing for closing.
The closing process involves your information changing hands. From your income to your social security number, everyone from title insurance companies to your mortgage professional needs your personal and private information to complete the closing process. So how do you protect your information and get through the process? We have some quick tips as you navigate through closing to give you peace of mind and keep your info secure.
1. Confirm secure communications
Many of the professionals involved in the closing process will be requesting your information -sometimes via email. Before pressing send, ask about their communications security. It's best to send your private information via encrypted email. Your everyday email can be intercepted by hackers and scammers leaving your private information at risk. When in doubt, drop off your documents in person.
2. Ask your lender how they will handle your personal information
Don't be afraid to ask your lender about their document storage policies. You will want to know where they store your personal documents up until closing and then what they do with your documents post-closing. Are your documents kept secure throughout the closing process?
3. Check security policies
It's important to understand who will have access to your information during the closing process. Most reputable companies will have a secure process in place with a limited number of employees who can view your information.
4. Ask for referrals
When in doubt, ask for referrals from those you trust. Your friends and family can be a great resource when choosing real estate and mortgage professionals. You can also verify the licenses of these companies are current through your state and local government agencies.
5. Feel free to ask questions
Throughout the process, you'll be asked to sign several documents. Before you sign documents or share information, be sure you understand what you're signing or why you need to supply this information.
Buying a new home is a major purchase and protecting your information is one step in giving your peace of mind as you move into your new home. Ask your real estate agent about all the players. From real estate agents to title insurance companies, it's important that you understand the process.
Here at Twin City Title, we help homeowners like you find peace of mind when it comes to the security of your title and your personal information. Contact us to learn more about our security process and how you can protect yourself during closing.