The process of purchasing a home is exciting yet stressful. To enjoy a smooth and successful buying experience, it’s helpful to plan ahead for every part of the purchasing process.
Closing, also known as settlement, is the final hurdle before your new home officially becomes yours. It requires a meeting between the home sellers, buyers, and lawyers in order to sign documents that transfer property ownership. It is also the time to pay closing costs and escrow payments. These tips will help you enjoy a simple and stress-free closing on your new home.
Keep A List and Check It Twice
Since there are countless steps that must occur before closing day, such as a title search, home inspection, and document approval, and each component needs to be confirmed and approved before closing day arrives. Something as simple as one single missing document can delay or even cancel a closing, so cross every task off your list twice.
This includes reviewing loan documents in advance. You have the legal right to review your closing settlement statement at least one day before closing, which gives you the chance to ensure your settlement matches the good faith estimate you received at the start of the loan. If you will need to sign it on closing day, it’s wise to read it the day before and ensure that everything meets your expectations. Continue reading “3 Steps to a Smooth Home Closing”