Finally, it’s time to close on your new home, but before the actual day of closing there are a few other things that have to happen.
Your settlement company will direct all the activities from getting lien letters on the property to preparing the closing paperwork. The title company will research the complete recorded history of the property, to insure that the title is free and clear of encumbrances by the date of closing.
We will do your final walk-though a few days before the closing, and you will need to arrange to get the utilities changed into your name.
Regulations put in place in October 2015 require your lender to present a Closing Disclosure (CD) document detailing all your fees no later than 3 business days before closing, via electronic delivery, and up to 7 days if mailed. If the CD is not delivered you will not be able to close on your scheduled settlement day, and this rule can not be waived. Please be sure to keep in touch with your lender the week before closing and make sure things are running on schedule. The bottom line of the CD will show the exact amount you need to bring to closing. You’ll need to bring a certified check, or arrange to have fund wired, in the total amount and your driver’s license to closing.
Be prepared to sign lots of documents that the closing agent will review at closing and remember to ask any questions as you go along. Then you will get the keys and become the official owner of your new home.
Don’t worry, you won’t be on your own through this process, a good agent will be there to remind you of everything that is going on and anything you need to take care of.