What to Expect During Your Closing
You’ve found the perfect house, started window shopping for furniture, and have begun to think about which decorations will turn your house into a home. Now only one thing stands between you and move-in: Closing Day.
During closing, the property ownership is officially transferred from the seller to you. There’s a lot that goes on during closing that can make it seem overwhelming, but with a little preparation, Closing Day can be a breeze.
Before Closing Day
- Before you arrive for settlement, you will receive a Closing Disclosure. On this document, you will find information regarding your mortgage payments, the terms of your loan, and any other related fees. If the numbers are significantly higher or lower than discussed with your Loan Officer, don’t be afraid to ask for clarification.
- Ensure that you do a final walk-through of the property before closing to make sure that the house is in the expected condition. If the seller has agreed to make any repairs as a part of the sale, now is the perfect time to verify that they’ve been completed.
- Confirm the date, time, and location of your closing. If you anticipate any issues with arrival, be sure to let each party know so that everyone is on the same page.
What To Bring
Be sure to bring the following items with you to avoid any closing delays
- Government issued ID, such as a driver’s license
- All paperwork related to the sale of the home, including details of your inspection, your sales contract, and proof that you’ve obtained homeowners insurance.
- Funds Closing Costs. Typically, you are not able to use personal checks, so be sure to confirm acceptable methods of payment and your final closing cost amount with your loan officer.
What You’ll Do
- Sign documents. Lots of documents. Be sure that you understand everything you are asked to sign and, if you don’t, ask questions!
- Remit all related closing funds to the closing representative, who will manage the transfer to the seller.
- Receive the keys to your new home!
Your Service First Loan Officer will be there for you every step of the way, helping make this seemingly daunting experience into an easier one.