Closing On Your Home; Plus Moving Tips:
It was hilarious. Not so much at the time. But now it’s funny. We were to the time for closing on our first home. My wife and I were so excited of course. But our closing kept getting pushed back. By the end of it, it was rescheduled 3 times! Why? Because our Loan Officer seemed to be running from us. I hope the poor man found another career because when our final closing was set he was on a plane out of the country! Literally. He was flying away. My wife called him just before his flight was boarding. He told her he had to get away. He was losing it and near a breakdown, so he was leaving the country.
Moral of the story, the closing is stressful for all involved. So, this month, let’s talk about some basic tips as you prepare to close on your home and make the big move in.
First, a super quick list on your role as the home buyer at closing:
- Be patient. (I think I’ve mentioned that in a past newsletter, haven’t I?) 😉
- Show up.
- Sign the documents. BUT READ THE DOCUMENTS FIRST.
Seriously, read the documents. One it’s educational. But secondly, you need to know exactly what you’re doing. You’re signing on for the largest purchase you’ll ever make in your life. So even if it feels awkward when everyone at the closing table is staring at you as you read, do it anyway.
Just a couple other things on the closing part of it: Have your closing costs ready. You’ll get the closing disclosure or “CD” 3 days before your scheduled closing. That’s the law by the way. Also, be mentally prepared for the seller to be there. It doesn’t happen every time, but our seller was at the table with the second house we bought. That was a bit weird because we were reviewing right in front of him how much money he was making off the deal. And he was seeing how much money we got to walk away with. It’s not uncommon for a buyer to get some money back at closing. It doesn’t happen every time, but loan estimates are always high. You pay more than you need to before closing. Plus your seller is typically paying off some of those closing fees for you, so you’ll likely get money back at closing.
Now, the other stressful part – Preparing to move!
The best thing my wife and I did both times we bought a house was to have a detailed checklist. It kept us very organized and on track. She didn’t really need it, but she knew I did.
Here is just one awesome checklist from HGTV as an example: https://www.hgtv.com/design/real-estate/moving-checklist
There’s so much in that HGTV article that I won’t comment further on preparing to move.
We often attend closings with our customers. We love seeing the excitement. Check out some of our recent homebuyer pictures and stories on our facebook page and website. While you’re at it, be sure to like our facebook page to keep up with all we are doing!
Next month: Your Home Is An Asset – Ways to Add Value to It