Congratulations! All of your hard work has paid off!
The closing will take place at your title company of choice. The title company scheduled your closing when the Clear to Close was issued and you should have already received appointment details. If you’re unsure about anything, make sure to reach out to me.
- Here’s what you can expect at closing
- Bring to closing – your cashier’s check (your lender will give you the amount – you may also want to talk to the lender about wiring the money instead) and your driver’s license (needed for the notary), proof of homeowner’s insurance, and your checkbook just in case.
- Expect closing to last about one hour but be flexible with the closing time. Do not schedule anything else on the date of closing in case the times change or paperwork is delayed. Be flexible with your moving plans just in case.
- Remember, you are most likely using someone else’s money to buy this house (meaning – a loan). Lenders are very picky about giving out their money, and they call the shots when it comes to when your loan actually funds. Funding means the sellers get their proceeds, the loan is in place, and you are able to obtain possession of the house according to the terms of the contract.
- The attorney will be running the show and going over every document with you before you sign.
- Some attorney’s bring all parties back at the same time while others will split up the buyers and sellers.
- This is your chance to ask the sellers about the house. Perhaps you need to know if they have owner’s manuals or warranties for appliances, paint colors, when the trash is picked up, if there are any remotes you need to be aware of, etc…
- If there is no leaseback for the sellers, then you should be able to get the house keys and move in as soon as the documents are signed at closing. With a seller’s leaseback, the sellers become your tenant for up to 30 days after closing. It’s up to you to stay in contact with the sellers after closing. You become their landlord for the term of the leaseback.
- If the sellers do not need to stay in the house for a pre-determined amount of time after closing, you can start moving in right away!
- If you’re purchasing a foreclosure, some banks require verification of funds before they will hand over the house keys.
- CONGRATULATIONS! You just bought a HOUSE!