What Happens on Closing Day?
It’s fair to say that most situations involving the unknown fill us with anxiety, and that couldn’t be more true than on your closing day. What happens on closing day? How long will it take? What do I need to bring? Who will be there? These are all great questions with simple answers. We hope to ease your worries as you accept the keys to your new home!
(Make your move as simple as possible by hiring the best movers in town!)
#1: What Do I Bring to Closing?
Nothing can ease the stress of closing day like advance preparation. This means gathering all of the items you need and putting them in a safe, easy-to-locate place. As the buyer, you will need to have a check written up and ready to go for all closing costs and other associated fees. If you are unsure what the exact amount will be, simply ask your real estate agent! Check your bank account, move funds around to the account you will be using to pay, and fill out your check. It may be good to bring extra checks just in case you fill something out wrong.
Next, make sure you have your ID. This step seems like a no-brainer, but it’s amazing how many people assume their ID is in their wallet — and then it’s not. Make sure your ID is up to date and on your person! Finally, bring your proof of homeowners insurance, as well as any other required insurances (such as flood insurance).
#2: Who Will Be at Closing?
The closing table may host a large group of people. Expect to see the seller, their real estate agent (if they have one), your title and mortgage company officials, and in many cases, a lawyer. It may feel intimidating, but everyone is there to ensure the deal goes down with as few hiccups as possible.
#3: What Will I Do?
Closing day consists of a whole stack of paperwork and legal jargon. You will be asked to sign a number of lengthy and confusing documents. Before you sign, each paper should be thoroughly explained to you, and if you do not understand something, ask questions!
The entire process should take around an hour, as long as nothing goes wrong. Upon finishing your paperwork, you will receive the keys to your new home, and the celebrating can commence!
(Remember to always change your locks upon moving into a new home.)
Are You Looking for a Home in Birmingham, AL?
Now that you know a little more about what happens on closing day, it’s time to prepare for your home search. ARC Realty is one of the fastest growing real estate companies in the Birmingham, AL, area. We attribute that success to our driven, talented team of real estate agents. Get the help you need to find the home of your dreams. Contact ARC Realty today!
