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Day of closing: How buyers can prepare

by Tom Stachler 09/18/2022

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

Tom Stachler

THANKS FOR STOPPING AND READING THIS INTRO  I just wanted to take a moment to let you know that I value you and your good will.  I hope someday we will have the opportunity to work together, however building life long relationships is what gives me the greatest joy and satisfaction in my career as a Broker-Realtor® and Builder.  I don't think of myself as selling real estate, but rather helping people transition and change their lives with service that "Goes Beyond" your expectations.