It’s closing time!
Now that the lender gave everyone the Clear to close, final walk thru is done – its time to attend the closing.
We will have confirmed with you several times by now the where and when…but we will remind you again the day before.
Closing usually takes about 60 minutes and occur at a Title Company. The title company schedules closings every 60 minutes thru out the day, so its very important to arrive on time…10 minutes early if possible.
A few important reminders for closing:
- Bring your photo ID with you – make sure it is NOT expired (ideally a driver’s license or passport)
- Bring your checkbook (just in case-you may need the routing numbers if your proceeds are being wired to you)
At closing, in addition to you, there will usually be the following people present:
- The Buyer’s Realtor and Buyers Lender. He or she will look over the documents, sign where needed and be available should any problems arise.
- The Buyers – they will be at the closing and will have documents themselves to sign. This is the best time to answer any specific questions about the home or neighborhood that they may have – common questions are where does the school bus pick up at, what day does garbage pick up occur, which neighbor have the best BBQs!
- The title company representative. The title person, or Closer – makes sure everything is signed properly, sends all of the signed documents to the underwriter for one last review and issues any refund checks at the end of closing. The title person runs the show.
- And Myself – Your Agent! If we did our job correctly, you should not have many unanswered questions before closing. But we will be there to make sure none of the numbers from the previously reviewed settlement statement have changed.
At the very end of the closing, you will receive copies of all the documents you signed. You will also get a check or wire for any proceeds at this time as well.
Last, but not least, if we are giving possession at closing – we will hand over the keys to the new home owners. If we are giving possession at a later agreed upon date, we will work out the final details for the key exchange at this point.
Congratulations you are now a HOMELESS!
Step 20: More Cancellations