Top Tricks for Enjoying a Smooth Home Closing
The process of purchasing a home involves a vast number of steps that finally culminate on closing day. Closing, also known as settlement, is a meeting between the home sellers, buyers, and any agents and representatives in order to sign documents that transfer property ownership. It is also the time to pay closing costs and escrow payments. As the very last requirement before your dream home is finally yours, closing day should be handled with the utmost attention-to-detail to ensure that everything runs smoothly. These tips will help you enjoy a simple and stress-free closing on your new home.
Check and Double Check Your List
Since there are countless steps that must occur before closing day, such as a title search, home inspection, and document approval, each component needs to be confirmed and approved before closing day arrives. Something as simple as one single missing document can delay or even cancel a closing, so cross every task off of your list twice.
This includes reviewing loan documents in advance. You have the legal right to review your closing settlement statement at least one day before closing, which gives you the chance to ensure that your settlement matches the good faith estimate you received at the start of the loan. If you will need to sign it on closing day, it’s wise to read it the day before and ensure that everything meets your expectations.
Obtain the Correct Form of Payment
Closing cannot be completed without the agreed upon payment, but many buyers are so eager to sign their closing papers that they forget about the small detail of stopping at the bank. Most deals require a certified check, not a personal check, in order to complete the closing process. Another critical thing to remember in your bag is your photo ID.
Give Yourself Plenty of Time
A smooth closing will take less than an hour, but you can’t predict or guarantee that you won’t encounter delays during your own closing. Don’t try to squeeze your closing into a lunch break or the last 45 minutes of the business day, or you may be sorely disappointed. If needed, take the entire day off of work so that you don’t need to stress about long wait times or delays.
Along with taking these precautions, it is critical that you partner with a reliable and experienced title service to meet all of your home buying needs. Benefit Title Services, LLC, located in Tampa, Florida, will guide you through every step of the closing process and ensure that any potential title problems are resolved far ahead of time. Call Benefit Title today at (813) 251-1420 to enjoy a smooth and stress-free home buying experience.
