Closing Instructions for Fee Simple and Easement Acquisitions
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Grant No: ______________________________________ Grant Recipient: _________________________________ Brief description of property: _____________________________________________________ Pre-Closing Checklist - Documents to Be Submitted to CWMTF for Fee Simple and Easement Acquisitions____ 1. Option to Purchase/Sales Contract and Copy of Recorded Deed or Other Legal Document showing Current Fee Simple Ownership (Option or Sales Contract must be signed and executed.) ____ 2. Appraisal (Two appraisals are needed if value is greater than $500,000. If an appraisal is over $500,000, CWMTF will forward to the State Property Office for review. All appraisals should be forwarded to CWMTF as soon as possible, but no later than 60 days prior to the anticipated closing date and should reflect a fair market value. Appraisals for conservation easements must reflect a "before and after" approach. Ample time should be allowed for review prior to closing. All appraisals are subject to review by the SPO.) _____3. Environment Report (Phase 1 report unless otherwise instructed by CWMTF and must be received 60 days prior to the anticipated closing date) _____ 4. Proposed General Warranty Deed to Grantee (Description must either be a metes and bounds or refer to a recorded map book and page.) _____ 5. Proposed Conservation Easement (Description must either be metes andbounds or refer to a recorded Map Book and Page. If the State of North Carolina is the Grantee; the Grantor must be an eligible applicant as set out in NCGS 113-254.) _____ 6. Proposed Assignment of Conservation Easement (Same as item no. 5) ______7. Zoning and Regulatory Compliance ______8. Title Insurance Commitment (Copies of all listed title exceptions and requirements must accompany the document. This includes any and all copies of listed maps and surveys.) _____ 9. Survey (In recordable form. Three copies. Two full-sized, one 8 by 11. Survey must be made within 90 days prior to closing unless otherwise approved by CWMTF and must be received 30 days prior to the anticipated closing date.) _____10. Taxes and Special Assessments (Evidence that the ad valorem taxes and special assessments due, if any, have been paid through the year prior to closing. If taxes and/or special assessments are due at time of closing they must be shown on closing statement and paid as part of closing.) _____11. Settlement Statement. (Proposed settlement costs.) _____12. Closing Attorney. (Name, address, and telephone number of attorney along with the place, date, and time of closing and attorney's TIN.) _____13. Seller's or Grant Recipient's Affidavit as to Environmental Condition of Property. _____14. Baseline Report. (Please note: Item numbers 1, 4-8 and 11 - 14 must be received 45 days prior to the date of your anticipated closing date. Please know that from the date that all documents are received by the Fund, that a reasonable amount of time should be allowed for CWMTF to make its review and process your request for funds. Once your request has been processed, please allow 5 to 15 business days to receive your check. CWMTF is notresponsible for closing dates that have been predetermined by you and the Seller, unless special permission isgranted by the Executive Director 90 days prior to the anticipated closing date. Extenuating circumstances must be provided to the Deputy Director in order to consider your request. Refer to your grant agreement for explicit instructions pertaining to the above named items. Please contact CWMTF to review this checklist; some of the listed items may not apply to every acquisition. Your request for funds will be processed only upon receipt of all applicable items. |