Closing on a new house is exciting. However, closing day does not always go as smoothly as everyone expects.
To ensure there are no surprises on closing day, you should know what to expect. There are also things you can do in the days leading up to the closing that will help with the process.
What to do right before the closing
According to Realtor.com, it is a good idea to do a final inspection of the house, preferably the day or two before the closing. This is necessary if you have an inspection contingency, but even if you do not, it is your last look to make sure the owners have moved out and that everything is up to par.
You will also need to do a title search and make sure that there are no issues. When you clear the title, you do not have to worry that someone will come along in the future claiming that they were the actual owners.
According to the Consumer Financial Protection Bureau, you should review your closing documents before you show up for the closing. You can request these three days prior to closing. Review the loan details and make sure they are close to the estimate you received.
What to expect on closing day
On closing day, you need to bring the following:
- Driver’s license
- Checkbook for any last-minute fees
- All individuals who will be signing as co-borrowers of the loan
- Any required paperwork
- Closing disclosure
Prior to closing, find out if you need to bring a cashier’s check for the closing costs or if you need to send it via wire transfer. If you transfer the money, bring confirmation of the payment. Keep in mind that if you receive last minute notice that the transfer information is different, it is probably a scam. Contact the lender, or someone you trust, directly to find out if the instructions are correct or a scam.