The day of closing is the goal at the end of a long and complex homebuying journey. Like every step of the process, closing on a new home has multiple smaller steps and variables to prepare for. Luckily, there are some simple ways to get ready for the closing process. Here are the most important things you should have on closing day:
You’ll need to verify your identity with the title company that’s responsible for the loan closing. It’s important that everyone who has their name on the loan bring their own form of identification.
A cashier’s check from the bank will be necessary to pay your closing costs. Closing costs can include the down payment, prepaid interest, property taxes and insurance fees. The cashier’s check for closing costs is commonly referred to as “cash to close.”
The closing disclosure is an essential form involved in the loan process. This document lists the final terms and costs of your mortgage. You’ll get this form from your lender at least a few business days before closing.
Bring proof of a homeowners insurance policy with you on closing day. Homeowners insurance is required by your lender to issue final approval on the mortgage. You can typically use the policy declaration page from your insurance provider for this purpose.
Closing on a home is one of the most significant financial decisions you can make, and it’s critical to have somebody with you who’s protecting your interests. It’s recommended that you have a closing agent or a real estate attorney present on the closing day.
Closing on a home is a major event and the final step in your homebuying process. To prevent delays, make sure you remember this list of the essentials before the day arrives.
Kimberly Kelly decided to get her real estate license when she moved to South Orange with her family and fell in love with the classic, period homes of the area. Having worked in the city for many years for LexisNexis, Kim understands the appeal of an easy commute to NYC. That’s why she specializes in towns along the Mid-Town Direct train line, offering welcoming communities, good schools, and space to grow.
Very active in her children’s school PTA, Kim knows firsthand how important a school system is to parents looking to make the move to the ‘burbs. She volunteers with fairs, fundraising, and other activities that bolster support for education. Kim also believes involvement in the greater community enriches us all and has sat on various boards & associations throughout the years.
Kim Kelly has lived many places throughout her life, from Pennsylvania to Oregon, but has found New Jersey to be the ideal place to raise her family and put down roots. She loves nothing more than helping others discover their special place as well. Kim’s extensive knowledge of the area, combined with her sense of community, offers clients a personalized guide to finding the right house - and town - to call home.
