Closing day is an exciting day in the world or real estate. It starts a new chapter for our clients’ lives. Whether you are buying or selling a home, there are many important documents to sign and expectations and responsibilities on the day of closing. Here are some of the things that you will need to know:
Bring an ID – Proper identification (government issued and NOT expired) will need to be provided to the title company.
Proper Funds for Closing – Most buyers will need to bring money to closing day to complete the purchase of a home. These funds will need to either be wired to the title company prior to closing day or a cashiers check can be brought to closing.
Reserve Enough Time – Closing day is VERY important. Please be sure to not rush yourself. It is necessary to give the paperwork undivided attention. Worrying about getting back to work, the movers at your home, or the babysitter may be distracting.
Ask Questions – This is your day. Make sure that you understand the documents that you are signing. If purchasing a home, you will be signing loan documents that can sometimes be very many pages. Your lender should be able to explain them to you. Taxes and any HOA fees will be prorated for buyers and sellers. Some utilities will be paid. If you don’t understand any of the documents be sure to ask questions.
Funding is when the Keys are Delivered – Signing the documents doesn’t complete the closing process. The closing is not complete until the transaction is funded and all parties have received funds. Your Realtor and the Title Co will keep you updated.
Celebrate – No matter the circumstances of the sale, you’ve made it to closing day. It is the day that you can breathe a little easier knowing that it is complete.
Of course, this is not everything that you will need to know regarding closing day, but a brief outline of what to expect. Please contact us with any questions.
Susan Brewer Service First Real Estate (6365)936-8600
Published on 2023-02-09 17:10:39
