If you’re buying your first house, you may be wondering what to expect for closing day. Closing on a new home can be both exciting and overwhelming at the same time. And naturally, you don’t want things to go wrong.
Being prepared for closing day can help ensure a smooth transaction and a good experience for both the buyer and seller. This closing day to-do list will help you make sure that all of your bases are covered for the big day.
Closing Day To-Do List for Homebuyers
Congratulations on making it through the homebuying process! Now, all the hard work is over and all that’s left to do is prepare for closing day. This to-do list will help you get ready for the big day ahead.
Gather Essential Documents
You will need to bring some important documents with you to your appointment. This includes proof of identification, proof of home insurance (if you haven’t provided it already), and some form of payment for the down payment and closing costs. Discuss payment methods with your lender, real estate attorney, or agent and gather all necessary documents beforehand so that you’re not rushing at the last minute.
Review Your Closing Disclosure
Closing disclosures are legally required to be sent to buyers at least three business days before closing. Make sure you read them carefully before your closing day, so you know the clauses and details of your loan. You can take note of anything that concerns you and address it before the closing.
Be Ready to Pay Closing Fees
If you’re getting a mortgage for buying your first house, you’ll need to pay closing fees to your lender. Plan well in advance so you can transfer the money for your closing fees on time or bring a cashier’s check with the correct amount.
Switch Over Utilities
Since you are moving into a new home, you will need to set up utilities. Make sure that all your utility companies know about your change of address. Otherwise, you may not have access to essential services such as garbage removal, electricity, water, or internet.
Ask for the Location
You will need to plan for travel time to your appointment. Make sure you have the right location for where the closing will take place. Budget in extra time for travel just in case you encounter any delays like a car accident or construction.
Thank the Sellers
Buying your first house is an emotional experience. You may feel like at this point, you’ve developed some sort of relationship with the seller. You may want to consider either getting them a small gift or writing a heartfelt note expressing your gratitude. Of course, you’re not obligated to do this, but it’s also totally acceptable if you feel compelled to do so.
Speak to an Expert
Preparing for your closing day well in advance can provide you with peace of mind and clarity. When buying your first house, a competent and dependable partner like Mortgage Solutions Financial can be of great help. Contact us today to discuss your closing day or get more information.
