The Homebuying Process: Step 5

Congratulations!  The underwriter for your loan has given you the clear to close.  The loan packet has been sent to the title company, who is preparing closing documents for review and signatures.  Your last few tasks are at hand.

It's a good idea to schedule a final walk-through of the property as close as you can before closing.  This ensures that the property is in the same condition as it was when you signed the purchase agreement.  If something unexpected has happened, like a water heater leak or a large branch falling on the roof, the issue can be dealt with before closing.  If it's not an emergency or something that would affect the financing, sometimes a credit can be given at closing from the seller to the buyer to have it repaired afterwards.

Likely there has already been discussion around a closing time and place.  Your Realtor should have given you directions to closing, and instructed you to bring your driver's license as photo ID is required.  The title company will have sent a settlement statement outlining all of the charges and credits for your transaction, and you should know how much money, if any, you will need to bring to closing.  Depending on the amount, the title company may require a wire transfer instead of a certified check from the bank; ask the title company for wiring instructions.

 Nothing left to do now except show up and sign!  Try not to be overwhelmed by the large stack of paperwork; often there are duplicates and triplicates of documents that need original signatures.  Also, your Closer will walk you through and explain the purpose of every document you are signing.  Don't be afraid to slow down and read through anything you don't understand - this is a big deal, and everyone will wait until you are satisfied with answers to your questions.

It's a great feeling to get those keys handed to you.  Sometimes the process has hiccups, but if you've made good choices with the professionals you've hired, most things are easily remedied.  2013 would be a great year to become a Homeowner!   
 

---

I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

---