Page 19 - Homeowners Manual - Santa Clara County

5� Preparing for Closing

• Approximately 10 – 14 days before you are scheduled to sign your documents, you should be prepared to
communicate with your lender, real estate agent and escrow officer� It will be important for you to provide
your hazard insurance information�
• NOTE: Wiring instructions will be subject to strict verifications to prevent fraud� Discuss this with your
closing professionals well in advance�

6� Closing Disclosure (CD)
• A closing statement called the Closing Disclosure (CD) will be used for most loan applications processed
after October 3, 2015� The CD will be sent directly to you (buyer/consumer) and not your real estate agent�
• The CD is designed to make it easy for you to understand the terms of your loan�

7� Three-Day Review Period
• The Closing Disclosure (CD) must be delivered to the buyer/consumer at least three business days prior to
signing the documents�
• If the CD is delivered via email, it is important to acknowledge receipt to avoid additional delays�
• The CD may also be mailed seven days in advance and does not require proof of receipt�

• This time allows you to share it with your agent, attorney and/or financial advisor, and ask questions or get
clarification from your lender about the terms and conditions of your loan�

8� Lender’s Title Insurance Policy
• Lenders typically require their borrowers to purchase a Lender’s Title Insurance Policy for the purchase loan(s)�
• The fees are usually based on the amount of the loan(s)�
• A lender’s policy protects only the lender’s interests should a problem with the title arise�

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