Thursday, October 29, 2009
Ready to Close? Better have a current picture ID
I had an interesting learning today when one of my excited first time home buyers learned that they can't close on their new home despite the fact that their mortgage lender and title company are ready. Why, you may ask? Why its because their driver's license has expired.
With the inception of the Patriot Act, buyers are required to provide picture IDs from the State or Federal government. This most often means either a driver's license or passport.
So, if you're under contract or considering it, then double check your identification and make sure that you don't lose it near closing day!