Step 25: Attend Closing
It’s closing time!
A closing confirmation email showing the date, time, and location will be sent out prior to closing. Closing is preliminary set until we receive the lender's clear-to-close (CTC).
Once the closing schedule is finalized, we recommend calling to confirm your movers one last time. Make sure they have the proper sized crew and truck to efficiently complete the move. Most closings take approximately 2 hours but can take longer. While moving on the same day of closing is not recommended, if you are moving on the day of closing please be sure to give yourself enough time to complete the closing before you need to meet your movers.
A few important reminders for closing:
- Bring your photo ID with you (ideally a driver’s license or passport)
- Bring your checkbook (just in case)
- Bring copies of your earnest money receipts and wire transfer receipt for the deposit and closing costs
Closing takes approximately 2 hours, however, it can be as short as 1.5 hours or up to 4.5 hours if there are problems. On average, expect to be finished in 2 – 2.5 hours. At closing, in addition to you, there will usually be the following people present:
The title officer. The title officer makes sure everything is signed properly, sends all of the signed documents to the underwriter for one last review, and issues any refund checks at the end of closing.
During closing make sure you understand how and when the taxes & insurance get paid and how to get the exemptions you are entitled to as these exemptions usually save you several hundred dollars per year.
You’ll also receive a copy of the Closing Disclosure. Hold on to this! You’ll need it next year when you prepare your taxes. Click here for an explanation of what the Closing Disclosure is as well as tips for understanding it.
Last, but not least, you’ll get your keys and can now officially move in! Congratulations new homeowner!
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