The Foundation For Your Future
What do I need to do to prepare for closing day?
Below are some of the items to address prior to closing. Additional items may also be required so it is a good idea to discuss these things with your real estate agent.
FINANCING - Check with lender to make sure you have met all the requirements and the home has met all requirements for the type of loan you have applied for. Also make sure the appraisal comes in and the value of the home is acceptable to complete the loan. Obtain a final approval and review loan terms with lender.
How To Select And Prepare For The Closing
TITLE INSURANCE - Arrange to obtain title insurance.
Review with attorney/ how to hold title to property regarding
estate planning/tax implications.
MOVING ARRANGEMENTS- Get estimates from moving companies and arrange a moving date. If handling moving yourself, packing items that you do not use often early can make moving day a lot easier.
PROPERTY INSURANCE - Arrange for insurance coverage
regarding real property, personal property, and personal liability. This will need to come in effect as of the day of closing.
CONTINGENCIES- Make sure all conditions pertaining to contingencies have been completed or waived.
UTILITIES - Find out what utility companies you will be using and make arrangements to have utilities transferred or turned on.
FINAL WALK-THROUGH - Do a final walk through the evening before or morning of closing to be sure that the property is in the same or better condition as when you made the offer. Be sure you have all reports, warranties, remotes and other items that are considered part of the real estate.
CLOSING PAPERS - Review all closing documents prior to the actual
closing. Have your agent and lender go over the HUD statement to explain to you how much you will need to bring to closing and why?
AT THE CLOSING - Confirm terms of payment and sign documents related to the purchase of your real estate. Obtain all garage door openers, remotes, security codes and keys to the home once deed is recorded. Once deed has been recorded closing has occurred and you are now the owner.