The big day has come.
Homeowners insurance- check
Home inspection- check
Now comes the day you have been waiting for. The day you officially close on your home. If everything is in place, the day itself should be a breeze.
What exactly should you expect?
First and foremost, give yourself ample time and bring as much patience as you possibly can. One big mistake people make is not allowing enough time for the actual closing. Your lunch break may not actually be enough time to close.
Besides, if you give yourself a half day (or even a full day) for the closing, you can always take time to enjoy and celebrate your new purchase!
In addition to planning for the time out of your day, it is typically a good idea to schedule your closing close to the end of the month, but not right at the end of the month. That will allow for enough time to address any issues or concerns that may come up over the course of the closing.
Don’t be afraid to ask for a final walk through
Many buyers are often allowed to do one final walk through 24 hours before the closing. This will allow for you to see if any damage has been done to the house or property since you signed the contract. If there is something to note, this final walk through provides the opportunity to negotiate any necessary repairs.
There are a few things to bring to the table
It is extremely important to bring all the papers you have collected and accumulated over the home-buying process. That means the good faith estimate, the proof of homeowners insurance, contract, your inspection reports, and any other documents that you have sent to the bank as a proof of your mortgage.
Besides the piles of paperwork, there can also be a handful of people present at the closing. While the actual people required to be present can vary from state to state. The people involved can range from your attorney, the home seller, your mortgage lender, and, of course, you.
Yes- it is a big day
But that does not mean it needs to be stressful, chaotic, or have anything go wrong. Talk it over with your attorney (if you have one) and definitely your mortgage lender. All of the preparation will be worth it- so you can sit back, enjoy the experience, and take the keys to your new home.