At this point you’ve cleared the roadblocks of getting approved for your mortgage, finding the right home, and negotiating the price. For most of us, buying a home is by far the biggest purchase we’ll make. Thinking about the magnitude of purchasing a home can make closing day weighty. We’d like to help take some of that weight off by arming you with some tips to make your closing day one to remember…in a good way.
5 Tips for a Stress Free Home Closing
- Set a clear closing date
Timing is important when it comes to closing, so make sure you get it in ink on your calendar.This way you can coordinate appropriately with the end of your current lease or your home sale, and give yourself some time to move. Work with all parties involved to make sure your timeline is known in advance.
You’ll want to secure your homeowners insurance and any other needed insurance before moving into your new home. Be sure to find out if your new home is in an area where natural disasters such as floods or hurricanes could occur, and get insurance quotes accordingly. Compare rates with your current insurers, and ask friends and family for trusted company recommendations. Once you find the right company be sure to communicate with them what your closing date is.
- Final Walkthrough
Schedule a final walk through before your closing date to make sure the property is as you remember. This is especially important if repairs have been made, and to make sure all agreed upon items are left in your new home. Use this time to test all major appliances and systems within your home for good measure. If you notice any discrepancies, now is the time to get them taken care of.
- Know what you owe
Buyers usually have to bring money to the closing, so be sure you know what fees and closing costs to expect so that you come prepared to pay. Most of the time personal checks are not accepted, so communicate with all parties involved in ample time to transfer funds or get the proper payment method.
- Celebrate the Accomplishment!
Getting approved for a loan, finding a realtor, seeing endless houses….you’ve jumped through many hoops to make it to this day. Don’t forget to relish in the excitement of your new home and the memories you will make in it. Celebrate the accomplishment of owning your new home!
First time buying a home? Don't just be prepared to close.
Our First Time Home Buyer Checklist will make sure you'll be prepared for anything.