The day has finally arrived…it’s CLOSING DAY! Closing is the legal transfer of ownership from seller to buyer. It’s a formal meeting that most of the parties involved in the deal with attend. Closings are usually held at the title company or lawyer’s offices. Your closing officer will coordinate the signing of documents as well as the collection and disbursment of funds.
In order to make sure the closing runs smoothly, here are some things to remember:
- Get a homeowner’s insurance policy and provide the information to your lender and/or closing agent.
- Review the HUD-1 (Settlement Statement) that your lender or closing agent will provide to you a couple days before closing. The Settlement Statement will contain a detailed, line by line description of all the coses associatied with the transaction. This will also include the exact amount you will need to bring at closing.
- Verify with your lender and/or closing agent any other items that you will need to bring to closing, such as a valid driver’s license or another form of ID.
- Conduct a walk-thru of the property just before closing. It will give you a chance to see that the condition of the house is the same that was agreed to under the contract. You will also be able to ensure that any repairs, based on inspections and agreed to by the seller have been completed.
You will be handed the keys to your new home and now you can move in! Congratulations and Welcome Home.
The Restivo Team will help ensure that closing (and the whole buying process from start to finish) is a smooth one. Contact us today.