Closing | Intorv

Pre-Closing Requirements

What's Required to Close as a Buyer?

Your closing requirements as a buyer are simple! This list is made assuming all credit, application, and financing have been determined. This does not include any underwriter requirements that would have already been requested and approved with the initial application if needed.

Buyer Closing Items Required:

Clear copy of valid driver's license. IF the address on the buyers DL does not match the application, we will REQUIRE proof of residency in the form of a utility bill or bank statement from the application address showing the buyers name within the last 30 days. Other items may be shared to clear this stipulation and will be reviewed for exceptions case by case.
Proof of down payment for dealer transactions: If you buy from a dealer you pay them the entire down payment. We will require proof of the entire down payment during the closing process which may include a copy of checks made, wire transfers submitted, credit card receipts, cash receipts, etc.
Proof of deposit or partial payments made to private sellers: For private transactions we collect all down payment not already paid to your seller. Any funds submit to your seller will need to be proven similar to the dealer transaction requirements above.
Proof of insurance: Our closing team will share with you the specific insurance requirements with details such as dollar amount of coverage, deductible maximums, and lienholder. We will require an active insurance binder prior to funding being completed.

What's Required to Close as a Seller?

Your closing requirements as a seller should be simple! The list below is generic however covers the most common items required from the seller for us to enter closing.

Seller Closing Items Required:

PRIVATE SALE: Clear copy of valid driver's license for all owners of the unit being sold.
DEALER SALE: Copy of active dealers license that matches the bill of sale.
ALL TRANSACTIONS: Photo of VIN / HULL Sticker
ALL TRANSACTIONS: Photo of Odometer or Hour Reading for Motorized RV's or Watercraft
PRIVATE SALE WITH TITLE IN HAND: Copy of title, front and back
PRIVATE SALE WITH ACTIVE LOAN: Copy of most recent loan payoff statement or payoff quote and full loan account number
DEALER SALE: Copy of Title or MSO/MCO, Front and Back
ALL TRANSACTIONS: Proof of down payment and/or deposits paid to dealer or private individuals will need to be supplied to our closing team during closing. We request this from both parties just to ensure we get the sufficient documentation needed.
DEALER SALE: Signed bill of sale / buyers order labeling all dealer related costs. Only include sales tax and registration if dealer is handling this, remove from this document if you'd like us to handle this.
ALL TRANSACTION: Wire Information for payment is required. In some cases we will require this on a bank letterhead or with a voided check after we run account verification. To forego this request later in the process, submit this upfront to save the hassle!

Closing Process Overview

What to Expect as a Buyer:

At IntoRV, our goal is to eliminate all of the hassles and difficult moments you typically encounter with other lenders, dealers, and more. Our goal is to make your closing simple, understandable, and leave you without unasked or unanswered questions. That is why our process is heavily poured into daily, making sure no stones are left unturned and leaving you with a positive feeling that you've signed up for what you understood, believed in, and knew to be honest and true to you.

Our fully remote closing team first reviews all items required by our lender and ensures we have all needs, stipulations, and documents in order to fulfill your loan once closing documents are generated. They will then begin processing your closing documents which looks like this:

Buyer docs will be emailed to all parties. The email will be sent including a link to securely download and print your docuements. The instruction in the body of the email will be line by line, and explain exactly what is required to be completed. Documents will need to be printed, and signed. There will be various areas where the buyer(s) will need to sign with a notary present, no digital or online signatures or notaries are accepted by our lenders. Ensuring you'll be able to sign and have notary requirements done in person are crucial to closing your loan.

Additional instruction within the email will list out requirements pertaining to insurance coverage, down payment, or any other additional items needs to fulfill your closing.

The buyer(s) will need to mail all original signed paperwork back to our closing team once completed using a prepaid overnight label we supply to you. Once we have these items, we will begin our funding review and determine if any items are needed, missing, or requiring correction.

Once both buyer and seller docs are reviewed and pass funding, we will submit payment to the appropriate parties via wire transfer and alert both parties. In any transaction should the buyer request funding to be held until a proper green light is provided, we will require that be given to us before 2:00 PM EST in order to funds to be released the same day. Wire go out all thru ought the day and may show up instantly or hours later.

What to Expect as a Seller:

We know that as a seller there are often many questions when it comes to how the buyer's loan and funding might work if they're using a lender. We're here to assure you that making the process simple for you as a seller is equally as important to us.

The first thing we will need to make sure of is that we receive all items that our closing team requires in order to begin closing with our lender. These items are generally listed out in an email to your buyer or to you directly, or sometimes both. A list of the common items may be found below. Once we receive all items needed, we will then begin the closing review process fully remote. Once our closing team verifies we have everything to fulfill the loan funding, we begin processing the closing documents.

Seller docs will be emailed to all parties. The email will be sent including attached documents for you to sign as the seller. The instruction in the body of the email will be line by line, and explain exactly what is required to be completed. Documents will need to be printed, and signed. There may be multiple areas where the seller will need to sign with a notary present, no digital or online signatures or notaries are accepted by our lenders. Ensuring you'll be able to sign and have notary requirements done in person are crucial to us completing the closing and getting you paid.

Additional instruction within the email will list out requirements pertaining to payment instruction, loan fulfillment when a payoff is present, title transferring, and more.

The seller(s) will need to email signed paperwork back to our closing team once completed. Once we have these items, we will begin our funding review and determine if any items are needed, missing, or requiring correction.

Once funding is completed, we will require the seller to mail original signed and notarized documents as well as corresponding title to our office using a prepaid label we supply within the original seller doc closing email.