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CLOSING DAY

	Be Organized To Save Time The day of closing can be stressful. When humans are involved - things happen…. So if you are organized and prepared it should minimize any little stumbling blocks that may occur at the closing. Also remember that I will be there to help facilitate the process. If during the closing you do not understand something or are unsure, please let me know and I will either help explain it, or if I do not know I will get an answer for you. Here are some tips for the closing. Call Title Company the day before Confirm the time of your closing appointment and ask for a final list of what you need to bring. Bring a certified check for your down payment You may have already deposited your down-payment funds with the escrow holder. If so, the holder will give a certified check to the seller. Bring separate checks for closing costs Many closing-related costs are deductible in the year that you pay them, so use separate checks to help you when you fill out your next tax return. Ask if you can use a personal check or need to bring a cashier's check; if the latter, ask to whom the check should be written. Take your checkbook You can usually pay small but unexpected closing costs--such as last-minute photocopying charges-- with a personal check. Have copies of important papers At a minimum, you should bring a copy of your sale agreement, the closing-cost estimate the lender gave you, and a binder from your insurance company that proves you have appropriate coverage on the home. Review final loan documents Don't be afraid to ask questions, or to refuse to sign them if they contain an error. Once your signature is on the loan papers, you're committed to abiding by their terms for the next 15 or 30 years. Review the settlement statement Compare this final statement to the estimate you received a few weeks earlier. Ask the escrow holder to explain any large discrepancies and check with a real estate professional if you don't get satisfactory answers. Review the seller's deed Ownership will be transferred to you via a deed. Make sure the deed is accurate as to the property address, spelling of your name and how you take title. Sign the note and mortgage Don't sign these documents until you've carefully reviewed them and all the documents listed above. The note commits you to a 30-year or 15-year contract and the mortgage allows the lender to foreclose if you don't meet your payment obligations. Have the seller's deed recorded The deed must be filed with the local recorder to prove that you're the legal owner of the home. Your title company or closing attorney should perform this task, but you need to do it if they don't. Get the keys Celebrate! Move in, settle down, and start taking responsibility for your new home.
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