Written by Barkley Rickman
When buying a home, one of the most satisfying phrases you can hear is “clear to close”. This means that the mortgage lender has given final approval and all contingencies have been satisfied, and moving into your new home is in sight. But there are still items to be addressed before the keys to your new Greenville home are in your hand.
Check out our Checklist for Closing Day to make sure you are prepared.
Complete the Contingencies
Being under contract and the steps to gaining ownership can appear daunting but when you get down to it, it is actually very straightforward. There are a number of contingencies that will need to be satisfied before moving into your home.
You will need mortgage approval if not paying cash, and to complete all inspections and any repair requests. Plan on acquiring a clean CL-100 letter and an appraisal. Before you can move on to the next steps, a title search will have to be done in order to make sure a clear title can be transferred.
Once these few things have been completed and approved then it’s time to put the closing date and time on your calendar! Prepping for closing day brings you one step closer to enjoying your new home.
A helpful tip: until you receive approval, we recommend not charging a new flatscreen TV to your credit card, as your lender’s approval is based on the information you provided upon application.
Home Buyer Tips For Closing Day
To make sure your closing day goes smoothly, the first thing you should do is review your Closing Disclosure and make sure there are no discrepancies. It is vital that you understand all the associated closing costs as well as all the terms and financial numbers involving your mortgage. Your mortgage lender or agent should be able to answer any questions you might have.
Schedule a final walk-through within 24 hours of closing to make sure any agreed-upon requested repairs have been completed to your satisfaction. You will want your home to be in the condition as specified by the contract.
It is also important to remember to contact any associated utility companies to ensure that an orderly transfer of service can occur. Also, confirm that you and your moving company are all on the same page.
If you are not wiring a money transfer, make sure you have secured a cashier’s or certified check to cover any closing costs on your behalf.
The Day Of
There is no more exciting feeling than waking up and realizing that you are just a few hours away from taking possession of your dream home. Before you head over to your new home, be sure to have your government-insured photo ID (driver’s license). If you are a newlywed please note that your name on the title or mortgage must match your ID.
Bring along any associated documents relevant to your transaction including the contract, proof of homeowner’s insurance and any related items from your lender.
The last part of the journey is to take a deep breath, prepare to sign your name numerous times and celebrate!
Buying your first home may seem intimidating, but it doesn’t have to be. We hope our checklist for closing day has helped you get organized. At The Parker Group, we are here to guide you through every step of the home-buying process. Our experienced agents will be at your disposal at all times. Get the home buying journey started by contacting The Parker Group.