Everything to Expect on Closing Day (Step-By-Step Guide for Homebuyers)

Closing day is the final step in the home buying process, and it can be an exciting and nerve-wracking experience for first-time homebuyers. In this article, we’ll walk you through the timeline of what to expect on closing day, so you can feel prepared and confident.

The Walk-Through

The day of your closing will likely start early with a walk-through of the property. The purpose of the walk-through is to ensure that everything is in the same or better condition than when you went under contract. This is the time to check for any issues that may have arisen since the inspection, and to make sure that any agreed-upon repairs have been completed.

Sending Your Funds to the Closing Attorney

Before heading to the closing table, you’ll need to send your funds to the closing attorney. It’s best to wire your funds the day before to minimize potential delays. However, if you haven’t done so, you’ll need to wire your funds before arriving at the attorney’s office.

The Closing Appointment

When you arrive at the attorney’s office, you’ll be greeted by the receptionist who will ask for your photo ID. Make sure to bring a current and unexpired ID with you. You’ll then be led to a conference room and seated. The attorney will come in with all the paperwork, and you’ll be asked some housekeeping questions before signing the closing documents.

If you’re getting a loan, you’ll need to sign an extensive loan package, which includes a promissory note and a deed of trust. The deed of trust is the document that secures your promise to pay the money back. It allows the lender to foreclose if you don’t make your payments.

Title Update & Recording

Once all your documents have been submitted to the lender and approved, the attorney will do a title update. The title update is to ensure that there have been no new liens, encumbrances, or judgments placed on the property from the time the title search was completed until immediately before recording.

If there are no issues with the title update, the attorney will record the deed and deed of trust. This means that the buyers are entitled to possession, and you’ll be allowed to get your keys. Your agent may have worked out a method for you to get your keys, or they may be left at the attorney’s office for you to pick up after recording. This is your cue to fire up the moving trucks!

After Closing Day

After closing day, the buyer will receive their final title policy, usually four to six weeks after the closing has been completed. This policy will protect the buyer in case any issues arise with the title in the future.

In conclusion, closing day can be overwhelming, but it doesn’t have to be! Knowing what to expect can help alleviate any anxiety and make the process smoother. To schedule a closing with us, you can use our convenient online form. If you have any questions, don’t hesitate to ask your agent or give us a call. Good luck on your closing day!

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