You’ve found your dream home, your offer has been accepted and the closing date has been scheduled, which means you’re this close to having the keys in your hands.
Closing is the last step in the selling or buying process, but it’s also the most crucial one so you must come to this meeting properly prepared.
If your loan officer or title company doesn’t give you a complete list of everything you need at your closing, don’t be afraid to ask them for one. For buyers, the following will be needed:
- Buyer’s copy of the purchase agreement
- Any outstanding documents or paperwork that you may not have yet provided to the title company or loan officer.
- Certified or cashier’s check for the closing costs that you’ll owe, made out to the title or closing company
- Proof of purchase of insurance for fire, casualty, etc.
- Invoices for any unpaid taxes, utilities or assessments
- Photo identification (driver’s license, passport, or state-issued identification card)
If you’re the seller, you’ll need the following:
- Seller’s copy of the purchase agreement
- Receipts for last payment of interest on mortgages
- Photo identification (passport, driver’s license or state-issued identification card)
- Bill of Sale of personal property covered by the purchase agreement
- Certified or cashier’s check made payable to the title or closing company, if these costs aren’t being deducted from the price.
- Proof of satisfaction of any liens, chattel mortgages, judgments or mortgages that were paid before the closing
- All keys to the house, as well as extra keys and garage openers, along with codes to keyless entry codes to the house or alarm codes
- Invoices for any unpaid taxes, utilities, assessments and latest utilities meter readings
- Any unrecorded instruments that affect the title
Also, remember to make sure you know the location of the closing, be on time and set aside plenty of time (at least two hours) for the entire process to be completed.