The Secrets of Closing for Buyers and Sellers

Owning a home is a major landmark in any person’s life, but it’s easy to become overwhelmed by the seemingly infinite number of tasks required to make that ownership a reality. Even after you sign a contract, get approved for a mortgage, and hire your movers, there’s still closing day to contend with. Though closing day might seem like a formality to exchange keys and sign on the dotted line, it can actually turn into a disaster without the right preparation. As a buyer or a seller, use these tips to ensure your closing goes smoothly.

Triple Check the Documents

Even the smallest issue, like a misspelled name or incorrect address, can delay a home closing, while more serious problems might threaten the closing altogether. Do your part by carefully reviewing all documents ahead of time to guarantee that all payment amounts, interest rates, and other pertinent information is in line with your expectations.

Prepare Your Funds

All costs are due at closing, and personal checks are not permitted. This means you need to bring the down payment to your closing in the form of a cashier’s check or arrange for a funds transfer well in advance. Never try to obtain your down payment on the day of your closing, or else you risk any number of problems preventing you from making your closing. Title insurance is also required at this time, which is critical to make sure you do legitimately own the title to your new home.

Make Sure Your New Home is Ready For You

After closing, you have complete access to your new home and can start to move in, but it’s your responsibility to make sure the home is waiting for you in the agreed-upon condition. The last thing you want is to arrive at your new house only to find that the roof was never repaired as agreed, or the heater still doesn’t work. Pay close attention to the condition of the home on your final walk-through and bring any issues up immediately.

With a bit of precaution and preparation, you’ll breeze through closing procedures and be inside of your new house in no time at all!