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:
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 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.
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.
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.
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.
Kim Clark started her real estate career in 1999 and shortly thereafter obtained her Broker’s license in 2002. After working for larger, corporate offices, she realized that her business and clients needed a more personalized and flexible firm. She founded Bayside Realty Consultants in 2007 offering a space of unity, collaboration and encouragement for agents and their clients. Kim specializes in the unique Cape Cod market comprised of primary, vacation and investment properties.
She says "It is great to be a part of helping make a homeowner's dreams come true". Clients and their individual needs can make things very exciting! Kimberly's enthusiasm is contagious and it has been a real asset in her successful career. She says, "Never quit. Just do what you like and the rest just falls into place." She is certified in several real estate designations including GRI, CBR, CRS, e-Certified, and a certified trainer.
