Tips for A Simple Closing From Gail Jones, St Augustine Realty
Once the search for your dream home is complete, the mortgage is approved and all of your belongings are packed up in cardboard boxes, the daunting task of closing comes next. From my point of view, there are six steps to take in order to have an effortless closing. These six steps include asking questions, understanding there may be human error, reviewing your documents in advance, remembering to bring a check, having ample time to complete closing and expecting small roadblocks. As a trained professional, and having been through the closing process numerous times I’ve found these six steps will help you to have a smooth closing and get the keys to your new home.
The first tip is to ask questions with any or all of the people involved in the closing process. There is no harm in asking too many questions of your realtor about the closing. Double check your list of everything you need before going to the closing. By covering yourself, you can be sure it will be a smooth transaction on your end. The next tip is to remember that because we are human, mistakes are going to happen. Whether you or the other party forgot checks or other important documents, mistakes can happen. By realizing this early on, your day may be a little less taxing if an unforeseen issue does happen to arise. The third tip is to check over all your loan documents before you walk into the closing. By law, you can review the closing-settlement statement 24 hours before your scheduled closing time. I know how stressful it can be for people on closing day and that sometimes people don’t even look over the important documents beforehand. This situation can get people into trouble and is why you should know exactly what you are signing before you read it for the first time.
The fourth tip is to remember to take a check to the closing. You will be notified regarding how much you need to bring to closing. The majority of times the amount is paid in a check, although you can do a wire transfer but it will add more time to the process. Other important documents that you need to bring to closing are your ID, good-faith estimate, homeowners-insurance policy and the Closing statement. The fifth tip, which is very important, is to carve out enough time in your day incase the closing takes more time than expected. An uninterrupted closing usually takes less than an hour, but there may be delays or unforeseen errors. It is my advice to take the entire day off, if possible.
The sixth and final tip is to expect small roadblocks. Small roadblocks can range from a single word typo to an incorrect number on the document. It is important to remind yourself that these roadblocks will only cause a small delay in the closing process. Closing on a house is both exciting and stressful. If you are prepared and follow these six tips, your closing will be smooth sailing. With a good realtor on your side, your closing process will be quick and painless.