We are an independent, advertising-supported comparison service. Our objective is to empower you to make confident financial decisions by giving you access to interactive tools and financial calculators, publishing original and unbiased content, and allowing you to conduct free research and information comparisons.
Issuers that Bankrate has partnerships with include American Express, Bank of America, Capital One, Chase, Citi, and Discover, among others.
Congratulations! You’re just days away from closing on your new home. This exciting time is also filled with anticipation, paperwork, and a few last-minute tasks To help you navigate this crucial stage smoothly, we’ve compiled a comprehensive guide outlining what to expect in the days leading up to closing.
Three Days Before Closing: Reviewing the Closing Disclosure
Three days before your closing date, you’ll receive your closing disclosure, which lays out the final details of your home loan and the closing costs you have agreed to. Review this document carefully to ensure everything is accurate and aligns with your expectations.
Key elements of the closing disclosure:
- Loan terms: Interest rate, loan amount, repayment schedule, and any applicable fees.
- Closing costs: A breakdown of all costs associated with the closing, including origination fees, title insurance, escrow fees, and government taxes.
- Estimated monthly payments: An estimate of your monthly mortgage payment, including principal, interest, taxes, and insurance.
What to do if you find discrepancies:
- Contact your loan officer immediately to clarify any discrepancies or errors.
- If necessary, request an amended closing disclosure reflecting the corrected information.
Two Days Before Closing: Final Preparations
Gather essential documents:
- Government-issued photo ID (driver’s license or passport).
- Proof of homeowner’s insurance.
- Cashier’s check or certified check for closing costs and down payment.
- Marriage certificate (if applicable).
Confirm the closing time and location.
Do a final walkthrough of the property. Verify that the property is in the condition specified in the purchase agreement and that the seller has completed any agreed-upon repairs.
One Day Before Closing: Relax and Review
Double-check all documents and confirm the closing details.
Pack an overnight bag if you plan to move in immediately after closing.
Get a good night’s sleep! You’ll need your energy for the big day.
Closing Day: The Final Step
Arrive at the closing location on time with all required documents.
Review and sign all closing documents carefully.
Pay closing costs and any remaining down payment.
Receive the keys to your new home!
Congratulations, you’re officially a homeowner!
Additional Tips for a Smooth Closing:
- Communicate with your lender and real estate agent regularly. Ask questions, clarify any doubts, and keep them informed of any changes.
- Be prepared for unexpected delays. Closing dates can sometimes shift due to unforeseen circumstances.
- Stay organized and keep track of all documents and deadlines.
- Don’t hesitate to ask for help if needed. Your lender, real estate agent, and attorney are there to guide you through the process.
Closing on a home is a significant milestone. You can guarantee a successful and seamless closing process by knowing what to anticipate in the days preceding the closing and heeding these suggestions.
Frequently Asked Questions
What happens if I find errors in the closing disclosure?
Contact your loan officer immediately to clarify any discrepancies or errors. If necessary, request an amended closing disclosure reflecting the corrected information.
What should I bring to the closing?
Government-issued photo ID, proof of homeowner’s insurance, cashier’s check or certified check for closing costs and down payment, and marriage certificate (if applicable).
What if I can’t make it to the closing?
In most cases, you can have someone else attend the closing on your behalf with a power of attorney.
What happens after closing?
After closing, you’ll receive a copy of all signed documents and the deed to your new home. You’ll also need to contact your homeowner’s insurance provider to update your policy and start making mortgage payments.
Additional Resources
- Bankrate: What to Expect at a Real Estate Closing
- American Family Insurance: Closing Day Tips
- Consumer Financial Protection Bureau: Closing on Your Home
By following these tips and utilizing the provided resources, you’ll be well-equipped to navigate the closing process with confidence and excitement. Remember, this is a momentous occasion, so enjoy the journey and embrace your new home!
Steps to prepare for closing on a house
Closing on a property is complicated. Here’s what you need to do to get ready:
Confirm your closing date
The next step is to confirm your closing date. On this date, the seller will vacate the property completely and you will have the opportunity to move in. Remember that the closing date is typically one month or more following the acceptance of the purchase offer. It can take even longer if you run into unexpected hurdles during the closing process. Once you have confirmed the closing date, you can start packing your things and phoning moving companies.