It’s arguably one of the biggest days of your life. There are moments in our lives that we will always remember vividly for the rest of our lives: our wedding day, the birth of children, graduations, and certainly the closing on your very first home. The sense of pride you will feel cannot be put into words – but before that big day, you need to know exactly what to expect. It’s a big day that should be treated as equally important. Before closing day, keep these few things in mind to ensure the process goes smoothly.
Make a checklist of a few things you need to do before closing day. Ensure that you have your homeowners insurance policy fully paid. You will be meeting with your lawyer to close on the home (more on that in a moment), so be sure to bring copies of your documents obtained throughout the home buying process such as a copy of your contract and inspection results. To ensure you don’t miss anything, it’s a good idea to ask your realtor what they recommend to bring on closing day. Finally (and perhaps most importantly), bring a certified check with the final amount you will be paying at closing.
Final walk through
Before meeting with your lawyer, your realtor will conduct a final walkthrough of the home. This final step before ‘sealing the deal’ allows you to ensure that everyone is in proper working order, such as appliances, utilities, pipes, flooring, etc. Cross-reference the state of the home with a copy of the home’s inspection results to ensure its current state is as close to the agreed-upon condition as possible. If it isn’t (e.g. there’s been water damage between the inspection and now), you will need to reach out to the seller and negotiate a plan of action (such as a credit to have the damage fixed) or outright postponing the closing date until the home reflects the condition both parties agreed upon.
Meeting with your lawyer
Don’t procrastinate on scheduling a time to close on the home until the last minute! Lawyers worth your time typically get booked fast; when you and the seller agree on a closing date, contact a lawyer immediately to schedule the close. If you’ve never dealt with a lawyer it can seem scary, but there’s no need to fret (unless you hate signing pile after pile of papers). Be sure to bring all of the items listed above – just know how much you must pay when it comes to…
Closing costs, other fees
Ensure you know exactly what the total will be at closing. This is especially true since you will be paying via a certified check, and having the wrong amount on the check is the last thing you want to happen. Your lawyer and realtor will give you the final, total amount that you will pay in one lump sum (the lawyer will disperse the fees from your total amount accordingly). Knowing the proper amount will ensure the closing date stays on schedule, will allow you to avoid any headaches, and most importantly will ensure that you are able to move into your home on schedule! Ready to experience your own closing date? Give me a call, and let’s put you on the path to home ownership today!