Buying a home can be a challenging experience. If you are in the process of purchasing a house or property for the first time, you are likely feeling a little overwhelmed. There are a lot of different steps in the process, and each one can present its own obstacles and frustrations. But at the very end of the whirlwind experience is the day that every person involved is looking forward to—closing day!
Closing day is when the ownership of the home or property is officially transferred to you as the buyer. It’s the ultimate reward for the energy, work, and finances you put into the process. It’s the day when you are handed keys to your new home. However, despite this being a great day, it is a day that requires preparation and a little know-how. Your lender or real estate agent will likely send you information to go over what to expect and what you will need to do to make sure closing on the home goes smoothly. In the meantime, take a look at some of our tips to ensure a great closing experience.
1. Breathe and Prepare
The first thing you should do as you approach closing day is breathe and remember what this process is for. It will be over soon, and you will have a new home or property as a result. If you talk to anyone who has purchased a home, they will agree on at least one thing—it’s stressful! So take some time every day to try and relax. One way to keep the experience from being so stressful is to prepare. There is so much information available on closing on a home, that you will have no issues preparing yourself on what to expect. You can watch videos, read articles, or talk to your closing attorney to arm yourself with knowledge.
2. Stay Vigilant
Even if your application and documents have gone through all the underwriting stages and everything has been accepted, it is not the time to make any other significant moves that could potentially be a red flag to your lender. Here are a few things you should not do before the closing day:
- Move large sums of money around.
- Change jobs or addresses.
- Apply for other loans or lines of credit.
- Spend a lot of money.
- Allow any bills or outstanding balances to go to collections.
It is a good idea to keep your credit score stable and your available money, job, and address as consistent as possible until the entire process is complete. Once you have signed your closing documents, you are free to spend or move your money around as you wish.
3. Make Sure You Have All Required Documents and Items
Your closing attorney will provide you with the list of everything you will need to physically and/or digitally bring with you for closing day. It would help if you went through this list a few times to ensure that you have everything you will need. Here are a few things that you will likely be asked to bring with you:
- A valid photo ID
- Proof of homeowner’s insurance
- A cashier’s or certified check for closing costs. Some will allow a wire transfer prior to the closing appointment.
- Your closing disclosure that is given to you by your lender.
- Your agent or lawyer to represent your interests.
4. Plan to Arrive Early and Stay Awhile
We recommend planning to arrive at least 20 minutes early so you have some time to relax and breathe before going into your closing appointment. While it is the last thing you must do before you are handed keys, it also can be the most stressful. You will sign your name more times than you can imagine, told a lot of information that is hard to remember, and see some big numbers (we are talking about that new monthly payment!) that could be overwhelming.
You should also know that this final appointment is not a fast one. It would be best if you planned to be there for at least one hour, possibly longer. You should review the closing documents before the appointment if you are able. Then, you can bring a list of questions for your agent, lawyer, or the closing attorneys.
5. Celebrate
All papers have been signed, closing costs have been paid, and the keys have been handed over. Congratulations! You are now a homeowner! Take lots of pictures and take some time to celebrate this tremendous accomplishment. The process was stressful, long, and complex, but the end was worth it. Now onto home projects and moving in. The fun part begins!
Zippy Shell Can Help You Move into Your New Home
We hope these tips are helpful as you get ready to close on your new home. If you are looking for a moving partner, be sure to give Zippy Shell a call at 888-947-7974 or contact us online. We offer flexible storage and moving solutions for every situation. After the harrowing journey of buying a home, we can help make the move easy and stress-free. Call for your free estimate today!