This is What to Look Forward to When Closing
What To Expect The Day Before Closing
Closing on a home can sometimes be the most stressful point for many home buyers. This is because there is so much involved in this step and a number of documents and fees that must be taken care of before closing day. It is important o know exactly what you will need to do so that you can be worry free.
Take a Final Walk Through the House
To prepare yourself, it is best to start the day before closing. You can actually take another walk through the home in this time so that you can reassure yourself that this is the one you want to choose. Also take this time so that you can get all the necessary paperwork ready and not stress out on the actual closing day.
Take Notes of Any Problems
When you perform this walk-through, the seller has often already left the home as it would be when you are ready to move in. Take note of everything to make sure there are no problems. If you find any problems then you can place a delay on the closing until those specific issues have been resolved with the seller.
Have Your Documents Ready
Next, if you are going to get your documents in order, you need to know which documents will be present on closing day. The closing disclosure
will include every detail of the loan. The mortgage note
states the amount of the loan and is a binding contract that states you will repay the loan. A certificate of occupancy
is a necessary document for home buyers that choose to have a home built instead of buying one that already exists. The trust or deed is the main document that is a security for the lender in case the buyer’s loan defaults.