Painless House Closing

How To Have A Painless House Closing

After months of hunting and negotiations, it is finally time to close on your house. You have done everything the seller, bank, and both lawyers have asked you to do and now you are ready to take the keys to your new house, right? Not so fast. The closing on a residential home can be a painful process if you do not take the proper precautions. But if you are sure to take some extra steps, then you can take away the pain that sometimes comes with closing on your new home.

Talk To Your Lawyer Before Closing

If you have a good lawyer, then they will be in touch with you throughout the process to make sure everything is ready to go. But just in case your lawyer forgot to call about something or you were unaware of some papers you needed to sign, it is a good idea to meet with your lawyer one week before closing to tie up any loose ends.

A week in advance will give your attorney enough time to tackle any issues or correct any problems that may come up in your meeting. If you wait too long to have a meeting with your attorney, then you may have to go through the nasty process of trying to reschedule your closing.

Make Sure Your Funds Are Ready

If you are responsible for bringing any money to the closing, then make sure you have your cashier’s check in hand before the transaction takes place. If you are unsure as to how much money you need to bring to closing or what form that money should take, then ask your real estate agent and your attorney for any clarification.

Have Your Paperwork Filled Out And Ready

Yes, you have an attorney helping you with your closing, but sometimes there winds up being paperwork you are responsible for bringing to closing that your attorney does not get involved with. If there is any paperwork required of you at closing, then spend some time a day or two before closing to make sure that paperwork is filled out and ready to go.

Make Sure The Lender Is Ready

The best way to ensure that your lender has everything together for closing is to work with a lender that has plenty of experience. But even if your lender is experienced, you should still give them a call a few days before closing to make sure everything is in order. It is usually a this point where the lender reminds you of a form you need to bring that you had forgotten, or may even find a form you forgot to sign and will ask you to come in to take care of it before closing.

Be Familiar With The Sales Agreement

At closing, any contingency plans you put together with the seller to have parts of the house repaired prior to closing will come up. You need to know exactly what is expected of the seller, and be prepared to sign off on every contingency with the confidence that comes from completely understanding your sales agreement.

Closing day on a residential real estate transaction is a big deal. If you want that big day to go smoothly, then you need to do your part in making sure that everything in your scope of influence is prepared and ready to go.