Step 24: Attend Closing

heather closing

It’s closing time!

An email confirming the date, time, and location will be sent out before closing.

Once the closing is confirmed, we recommend calling to confirm your movers one last time. Make sure they have the proper size crew and truck to complete the move efficiently. If you are moving out of a condo and are not on the first floor, let them know, especially if your building doesn’t have an elevator. Most closings take approximately an hour but can take longer. If you are moving on the day of closing, please be sure to give yourself enough time to complete it before you need to meet your movers.

A few important reminders for closing:

  1. Bring your photo ID with you (ideally a driver’s license or passport).
  2. Bring your checkbook (just in case).
  3. Closing takes approximately an hour but could be longer.

People present at the closing:

  • The title officer, who runs the show. He/she reviews all the documents and makes sure everything is appropriately signed, sends all of the signed documents to the underwriter for one last review, and issues any refund checks at the end of closing.
  • I will be available should any problems arise. If I’ve done my job, the closing is anti-climactic.
  • You, the buyer. Be prepared to sign all the required documents.
  • The seller’s agent. The seller’s Realtor will be available should any problems arise.
  • The sellers, who will also be signing all the required documents, and answering any last-minute questions you may have.

At some point, the title officer will provide you with details on how to file exemptions. Make sure you understand how and when the taxes get paid and how to get the exemptions (homeowner, mortgage, and senior citizen) you are entitled to as these usually save you several hundred dollars per year.

At the very end of the closing, the title officer may give you an overage check, which is a refund of any money you transferred when you sent your down payment and closing cost fees. 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.

Last, but not least, you’ll get your keys and can now officially move in!

Congratulations new homeowner!