Top 5 Ways to Prepare for Your Home Closing

Buying a home is a big step and an exciting venture, whether it’s your fifth home or your first. But being completely prepared throughout the entire process is key to helping streamline the settlement proceedings and avoiding a prolonged wait to enjoying your new place. When it comes to getting ready for a home closing, you can never be over prepared. From the mortgage application to the final closing hour, here are the top five ways to make sure you’re as prepared as you can be for that golden day.

Provide necessary documentation as soon as possible.

Once your contract is accepted, your lender will move forward with completing the mortgage approval process. Be sure to submit all necessary documentation as quickly as possible and respond to any requests for additional paperwork promptly. This will help to minimize delays in the processing and funding of your loan.

Stay in contact with your real estate agent and lender.

The best way to remain current on the state of your closing is to stay in contact with your real estate agent and respond to any inquiries from your lender or title agent as early as possible. At times, additional information on your application or other pertinent documentation may be required to move your closing process forward. Remaining “in the know” on the state of your settlement proceedings can help disseminate information more quickly and mitigate any potential snags.

Carefully review your Closing Disclosure (CD) Form.

Within three business days of your scheduled closing, you’ll receive a CD form from your lender. This important document should be reviewed by you and any co-applicants right away and as thoroughly as possible, as it’ll contain detailed information about your loan, interest rate, payment schedule, and other descriptions outlaying the terms of your mortgage. Any discrepancies in the information regarding your loan must be addressed and resolved before going into closing.

Schedule the final the walk-through.

In general, the final walk-through of the property you’re intending to purchase should be scheduled 24 hours before your closing day and time. This gives you a last chance to make sure the property is in its agreed-upon or proper condition and that any necessary repairs have been completed.

Bring proper ID and payment to your closing appointment.

On the day of your home closing, it’s essential to bring two forms of proper identification and either a certified check in the amount of any funds you owe or exact wire transfer instructions to complete the settlement transaction.

Need further tips on getting ready for your upcoming closing? Contact the Linear Title & Escrow team today!

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