At the end of a long homebuying process, you’ll finally reach your goal: the day of closing. However, even though you’re at the finish line, closing on a new home is a process itself.
There are many steps to finalize your home purchase and just as many opportunities for delay. To make sure you’re prepared for closing day, here is a guide of what to have with you:
Photo ID
On closing day, you’ll need to confirm the identity of everybody named on the loan. If more than one person is listed, make sure they have their form of photo identification to show the title company.
Cash to close
Cash to close refers to the final closing costs you need to pay. Request a cashier’s check from your bank that covers final costs like down payment, prepaid interest, property taxes and insurance fees.
Closing disclosure
The closing disclosure is essential to finalizing your loan process. These documents include the final terms and details of your mortgage loan. Your lender can provide you with this information a few business days before closing.
Proof of insurance
Bring proof of your homeowners insurance policy at closing. Lenders require proof of insurance as a condition of loan approval. Have a copy of your policy declaration page from your insurance provider to show your mortgage lender.
Your real estate agent
Closing day is made up of several important legal transactions, and it’s important to have professional representation. Your real estate agent should be there to protect your interests and provide any guidance during the closing process.
Closing on a home is a major event. Not only is it the final step of your long buying process, it’s a process in itself. Remember this guide when preparing for closing day to ensure it goes smoothly and quickly.
About the Author
Sandy Malbrue
Hi, I'm Sandy Malbrue and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search for representation or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I'd be honored to put my 14 years real estate experience to work for you. Be it to gain wide exposure for your home with my marketing plan, negotiate offers or manage the transaction once you've accepted an offer, in a way that will get you the best price and cause the least amount of disruption to you life as possible.
If you are a buyer, allow me put those skills to work for you to help with the pre-approval process, work with you to locate and arrange for you to view homes of interest to you , and negotiate your offer. Once you have an accepted offer, I will help you arrange inspections, I will manage the transaction for you, from helping to arrange for inspections to keeping you up to date on contingency removals and walking you through the process to a new set of keys.
Let's do this!