You have your closing date scheduled, and it’s almost time to sell your place or get the keys to your new home! Here’s a few things to expect as you’re making your way to the closing table:
Be Adaptable
Even though the date has been scheduled, there are often delays that are out of yours or your Realtor’s control. With your paperwork filtering through the hands of the lender, the underwriters and/or the closing attorney, there are many opportunities for hiccups along the way. Although this can be inconvenient with scheduling your move, be sure to have a back-up plan of a place to stay and know the cancellation policy of your moving company in the event that there’s a slight delay in your closing day.
What to Bring
Your title company, realtor and mortgage loan officer should let you know exactly what you need at closing. But here’s a good idea of what to expect:
Buyers:
- Government issued photo I.D., such as a driver’s license
- Certified or cashier’s check for the closing costs that you’ll owe
- Any outstanding documents or paperwork that you have not yet provided to the title company or mortgage loan officer
Sellers:
- Copies of all of the keys to the house
- Garage door openers
- Certified or cashier’s check made payable to the title or closing company
- Government issued photo I.D., such as a driver’s license
Final Walk-Through
Because the home buying process can take some time from signing the contract to making it to closing, the purchaser has the right to make sure that the property is in the same condition it was when the contract was finalized. Of course there may be minor things, but this is the chance to make sure there have been no dramatic changes since you last saw the home. Make sure all appliances are there that were agreed upon in the contract and that any repairs the seller was supposed to make were made.
Signing the papers
Get your signing hand ready—there is going to be a LOT of paperwork for you to go through at closing if you’re financed your new home. Don’t be afraid to ask your Realtor if you have any questions about the documents. The closing process usually takes an hour or so, but be prepared to go through a ton of paperwork.
