Moving can be both exciting and stressful. While you may be anxious to get into your new home, there can oftentimes be a long list of to-dos before you arrive at that point. Certainly, one of the primary keys to getting there is closing day.
If you’ve never purchased a home in the past, sitting at the closing table may be somewhat overwhelming. There are a number of important documents to sign – but at the end, you will be handed the keys to your new abode.
In order to ensure that the closing itself goes as smoothly as possible, there are some important tips that you can follow:
Review All of the Documents
First, be sure to ask if you can review the important documents. By law, property purchasers have the right to review the closing statement (HUD-1 Form) at least 24 hours before the closing time.
This will tell you how much (if anything) that you will need to bring to the closing in terms of your down payment and / or any closing costs. It can also be beneficial to compare your closing statement with the good faith estimate form that you received when you initially applied for your mortgage.
Whether you are a first time purchaser, or you have attended many closings throughout the years, it can always be extremely helpful to ask questions so that you know what to expect. This includes contacting your real estate agent, as well as the lender or loan officer that you are working with.
There can be situations where an additional document is needed, or other items that could end up slowing the process down and / or that could result in having to reschedule. Knowing any of this up-front, though, can help you to get these items checked off of your list in plenty of time.
Take the Day Off Work
If you work, you will likely want to take the day off so that you can fully focus on the closing process. Even though many closings can take less than an hour, it could be that there are delays that may hold you up. Not having to rush back to the office can also allow you to proceed at your own pace, carefully inspecting all of the documents that you will be signing.
If you are seeking a new home in the Bakersfield area, Contact Us. We will walk you through the entire process so that you’re never left in the dark. We will also provide you with a free, no obligation estimate of the value of your current home. So, take the first step today.