CLOSING ENCOUNTERS

Closing day. It's full of a wide range of emotions. However, if you know what to expect, you just may be able to make that closing day as care-free as possible.

On the closing day, buyers need to bring their copy of the fully executed contract along with the good faith estimate from the lending institution, proof of insurance and the funds necessary for the down payment and closing costs in either a cashier's check or as certified funds. Usually cash or personal checks are not accepted.

As a buyer, you need to review all of your paperwork at least a day before the actual closing date to see that everything is in order. Also, make sure you are clear on the closing date and occupancy date and if they both meet your needs.

Closing should no be an all-day affair. There are usually about 30 documents to sign and should take around l hour. In most cases, you cannot close on the weekends or evenings because of the exchange of funds. However, arrangements can be made for homeowners or buyers who are out of state.

As your real estate professional, I can answer any questions you may have about closing day. Just give me a call, I'd be glad to help.

Click here to go back to main listing of need-to-know articles.