Download The Statement of Information Benefits PDF
Why You Need a Statement of Information for a Smooth Real Estate Transaction
Protecting your identity and streamlining your closing:
At Shoket Properties, we prioritize both a smooth real estate transaction and the security of your personal information. The Statement of Information plays a crucial role in achieving both of these goals.
Q. What is a Statement of Information?
Imagine this: There are multiple people out there with names similar to yours. A Statement of Information helps distinguish you, the buyer or seller in a real estate deal, from those individuals with similar names. This allows title companies to accurately identify you and avoid potential roadblocks during the closing process.
Q. How Does it Work?
Think of the Statement of Information as a way to clear up any confusion for the title company. By providing specific details such as your full name, social security number, date of birth, and marital status, you help them differentiate between you and others with similar names on public records. This allows them to focus on matters truly relevant to your specific transaction.
Q. What Information is Requested?
The information requested on the Statement of Information is standard and designed to ensure accurate identification. This typically includes:
- Full name
- Social security number (used for verification purposes only)
- Date of birth
- Place of birth
- Marital status
Is My Information Safe?
Absolutely! We understand the importance of safeguarding your personal information. All information collected is handled responsibly and kept strictly confidential.
What Happens Without a Statement of Information?
California Association of Realtors® contracts require sellers to submit a Statement of Information within a specific timeframe. Without it, the title company might be forced to list exceptions in their coverage. These exceptions could involve judgments, liens, or other matters impacting the property, potentially delaying the closing process. Since lenders also require clear title, these exceptions can become a hurdle to securing financing.
Ensuring a Smooth Closing
By completing the Statement of Information accurately and promptly, you contribute to a smooth and efficient closing process. If you have any questions, please don’t hesitate to reach out!
Download The Statement of Information Benefits PDF
For expert guidance as well as personalized assistance in real estate, reach out to Irina and Jeff Shoket. We are dedicated to helping you achieve your real estate goals with confidence in addition to making the experience rewarding. Contact us today!
- Phone: (805) 267-9171
- Email: jeff@shoketgroup.com
We look forward to assisting you with all your real estate needs in Thousand Oaks and beyond. Don’t hesitate to get in touch – your successful real estate journey starts here!