6 Tips to Ensure a Smoother House Closing

Jan 13, 2016

Closing on your new homeClosing day doesn’t have to be stressful. Ensure that it goes smoothly by following six simple tips.

#1 – Review the Closing Settlement Statement in Advance

Ask for the closing settlement statement prior to the closing. Compare it to the GFE form to make sure that everything is in order. If you see any mistakes, go over them with the mortgage broker so they can be fixed prior to the closing.

#2 – Set the Money Aside for the Closing Costs

You will be required to show proof of closing costs, and you might even have to pay the closing costs the day before the closing. Set the money aside ahead of time so it won’t slow you down with the closing.

#3 – Reach Out About Last Minute Information

Lenders may ask for information at the last minute. Stay on top of it by contacting the lender the day before the closing to inquire about any additional information, such as canceled checks or recent bank statements. Contact the lender again on the day of the closing to ensure you have everything you need to move forward.

#4 – Avoid Making Any Major Changes

Major changes can slow down the closing process. With that in mind:

  • Don’t take out any new lines of credit
  • Don’t make any big purchases
  • Don’t change jobs
  • Do make all credit payments on time

#5 – Do a Walkthrough Inspection Prior to the Closing

The buyer and seller should create a timeline of agreed upon repairs so everything is completed several days before the closing. Walk through the home at least a day before the closing to ensure that everything is completed to your satisfaction. If there is still an issue, the seller will have some time to finish it before the closing.

#6 – Take the Day Off

Closing day can be chaotic, even if you’re organized. It is a good idea to take the day off for the closing. That way, you will be free to run to the bank to get the certified check, gather up any last minute documents, and make it to the closing on time. And last, but not least, take time to celebrate the successful completion of your purchase!

Ensure a smooth, efficient closing with Beaches Title Services. Get a free closing cost analyses to find out how Beaches Title Services can help you save money while getting you into a new home.