Closing day is approaching and it is almost time to move in. I am sure you are excited and maybe you have some questions about what to expect too. If this is your 1st home or have purchased many homes, we are here to help you make closing day easy and celebrate with you too.
How Do I Know How Much Money to Bring to the Closing? - Prior to closing, you will obtain the closing figures from the Attorney or Title Company. You will need to have your closing funds in a way that is approved by the closing agent. Typically, they request that the closing funds be wired into their escrow account. Be sure that the wiring information is from the closing agent and not a scam.
When Should I Turn Utilities On? - You will be able to call the power company prior to closing and schedule the transfer of the electricity on the day of closing. You could possibly need the name of the seller when you call in as well as your new address. Many water companies require a closing statement and an in person visit. We suggest that you call them prior to closing to see what their water transfer process is so you can make sure you are prepared when you go to the water company.
What Should I Bring to the Closing? - A government ID will be necessary as the closing documents will need to be notarized. Also if you have the original association approval, you should bring that in case the closing agent needs it for the file.
Who Will Be At the Closing? - Every closing is different and this varies. Sometimes the seller, the buyer, real estate agents and the closing agent are there and sometimes either the seller or buyer signs ahead of time.
When Do I Get My Keys? - Many buyers are ready to move right in or begin getting the property ready for move in day. You will get access to the home once you have signed all of the paperwork, your lender has approved the paperwork if you have a loan and your funds have been received. In some cases you will also obtain keys or cards for the community features too.
WALK THRU PROCESS
Prior to the closing, there will be a walk thru scheduled for the day of closing or another time agreed by all parties. The seller should be moved out and the property should be broom swept. While at the walk thru, you should check to make sure the items included in the offer are still at the property and the condition is still the same. This is not a new inspection.
Congratulations on your new home. We hope you create many happy memories in your new home!