Step 11: Schedule the Closing on Your Calendar

 

Now that you have an executed contract, it’s important to put the closing date on your calendar and arrange to take the day off from work.

Here are a few things to know about your closing date as specified on your executed contract:

  • It could change. So many factors can cause a closing date to be pushed out—a family emergency, a request for additional documentation, a last-minute discovery of a defect in the home, etc.

  • Generally, the parties make every effort to close at a location close to the property being purchased.

It’s best to attend the closing in person. However, if you absolutely can’t be there, notify me, your mortgage lender, and the title company. The title company will create a Power of Attorney (POA) so that I or someone else can represent you. This needs to be done at least two weeks in advance of closing, as your mortgage officer needs to review and approve the POA, it needs to be signed and notarized, and the original signed paper copy must be returned to the title company at least one day before closing. In addition, enclose a letter explaining why you can’t attend the closing.

 

 

 

Posted on November 20, 2018 at 1:33 pm
Lee Ann Balta | Category: Buyer Step by Step

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