Sunday, August 22, 2010

How to Find the Correct Property Address

Here's a great way to avoid having to amend sales contracts.

Before approving a loan for closing, underwriters need to make sure the address that is on the sales contract is the correct address. If the address is incorrect, the sales contract will need to be amended to show the correct address, and that can cause unnecessary delays.

The address that shows on the title commitment is NOT the official address, so if for some reason you have the title commitment before writing the contract, you can't rely on that address.

Underwriters use the United States Postal Service Zip Code look-up web site to get the official addresses of properties.

Here's the link to the site:

http://zip4.usps.com/zip4/welcome.jsp

Once you are on the site, enter the street address, city, and state that you have (you do not need to enter the Zip Code), and hit SUBMIT. The correct USPS address will be returned.

If you use this official USPS address on the sales contract, you will avoid closing delays.

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