Clear Lake and League City Buyers Resources
Closing The Deal To Your New Home
Nearing the Final Step - "CLOSING"
You are approaching the end to this exhilarating journey. Yes, closing is almost here. Keep these things in mind:
- Whatever you do, do not go out and buy a new car for the driveway, new furniture for the house or lend a friend some money.
- Your lender will take one final look at your credit just before closing to see that your financial status is the same as when you were first approved.
- Don't buy anything until after you close and then a day or two later to be safe, you do not want to change how your credit looks!
About 48 hours before closing, you and I will do your Final Walk-Thru on your new home.
- Can you feel the excitement building as you drive up to the front of the house knowing that this will actually be YOURS very soon?
- Let's make sure it looks just the way it did when you made the offer, and that any repairs that were required are completed!
- On the day of closing, we'll meet at the title company for your closing appointment.
- You will need to bring with you a cashier's check made payable to the title company (you'll be notified of the amount ahead of time).
- The final HUD-1 Settlement Statement will be prepared by the title company and your mortgage officer will verify that the amount for your loan and closing cost are correct. View a sample HUD -1 Settlement Statement.
Additional items needed at closing.
- You will need to have a photo ID for signing. This must be some form of government issued photo ID. You driver's license will be fine.
Who attends the closing?
- You as buyer (both husband and wife sign in Texas even if only one name is on the Deed), the title companys Escrow Officer, and me as your REALTOR® will attend the closing.
- Buyers and Sellers typically close the same day but at separate times. Usually the Buyers will sign first.
What happens at a Closing?
- The title company's Escrow Officer, or Closer, is the person who will explain all the documents prepared by your lender and the title company attorney for your signature, review your HUD-1 Settlement Statement with you, answer your questions, assist you in signing the documents in the correct places, and notarize your signature where required.
- Your closing appointment is usually arranged to last about one hour, during which you can ask all your questions. If you will want to read each page in detail, I'll be happy to arrange a special appointment ahead of closing time for such detailed reading.
When do you get the keys?
- This is such an exciting step; I know you are ready to hold them in your hands. Right? Your contract specifies when this is to happen, usually as soon as your purchase has closed and funded. That usually means you will get the keys later in the same day that you have your closing appointment.
Here are a few final tips, learned over many years of experience:
- Be sure to set your closing time as early in the day as possible to avoid the possibility of having funding delayed until the following day.
- Try not to close on a Monday morning, Friday afternoon, first business day after a long holiday, or the last day of the month.
- Other Buyers before you wished they had someone to give them these tips. It could have made their closing smooth and stress-free, just as yours will be.