At the end of a long homebuying process, you’ll finally reach your goal: the day of closing. However, even though you’re at the finish line, closing on a new home is a process itself.
There are many steps to finalize your home purchase and just as many opportunities for delay. To make sure you’re prepared for closing day, here is a guide of what to have with you:
Photo ID
On closing day, you’ll need to confirm the identity of everybody named on the loan. If more than one person is listed, make sure they have their form of photo identification to show the title company.
Cash to close
Cash to close refers to the final closing costs you need to pay. Request a cashier’s check from your bank that covers final costs like down payment, prepaid interest, property taxes and insurance fees.
Closing disclosure
The closing disclosure is essential to finalizing your loan process. These documents include the final terms and details of your mortgage loan. Your lender can provide you with this information a few business days before closing.
Proof of insurance
Bring proof of your homeowners insurance policy at closing. Lenders require proof of insurance as a condition of loan approval. Have a copy of your policy declaration page from your insurance provider to show your mortgage lender.
Your real estate agent
Closing day is made up of several important legal transactions, and it’s important to have professional representation. Your real estate agent should be there to protect your interests and provide any guidance during the closing process.
Closing on a home is a major event. Not only is it the final step of your long buying process, it’s a process in itself. Remember this guide when preparing for closing day to ensure it goes smoothly and quickly.
About the Author
Deborah Tomczak
Hello, my name is Deborah Tomczak, One of the Top Selling Real Estate Agents on the Space Coast working with Remax/Elite.
I specialize in the business of pairing discerning buyers with homes that match their wants and needs, and maximizing profits for people with real estate to sell. But more important, I make sure you are communicated with during the entire process to reduce stress and ensure a positive outcome.
I bring a 25 year corporate career in marketing and advertising to my 19 year real estate business, allowing me to utilize skills and experience to make the best use my clients time and minimize unforeseen challenges that may arise.
I'd be honored to put my real estate experience to work for you.