Things to Bring to a Real Estate Closing
Real estate closing days are big days in the complete sense. Real estate closing when you as a buyer will finally get your hands on the keys of the house you are buying. You will be able to call it “your” house. In other words, it is the day when the selling and buying of the house is officially finished. It is the final stage.
Characteristically, it is the responsibility of the settlement or real estate agent to prepare and order all the necessary documents needed to make the closing happen. The documents needed vary from state to state. The professionals involved in the process handle the documentation aspect and are generally well aware of the requirements of every state.
There are a number of things a buyer needs to bring to a real estate closing, such as a valid form of identification, which is typically a state issued license or passport. Buyers are also expected to come along with the buyer’s funds, which usually have to be in the form of a cashier’s check. Some real estate companies accept personal checks, but this is something that’s becoming rarer with time.
Aside from that, it’s definitely going to cost a buyer well over a $50 to $100, which is why personal checks are not always accepted. The most appropriate means of accepting buyer’s funds now is the wired system. Some companies prefer that funds should be wired to them well ahead of time. However, if you decide to wire funds, that will be something you need to discuss with the concerned company and bank prior to the closing day.
The real estate closing process itself takes just a few hours for you as a new buyer. You will be signing a lot of documents, so, be prepared! At the end of the closing process, the documents will be sent off to the lenders or homeowners, who have to review the documents thoroughly. Until that is done, you won’t have access to the property, which means you won’t be able to take possession of the property immediately after the signing process is completed. You will have the home keys in your possession, but you won’t be able to go ahead with the moving and storage part.
Most times, closing agents call and inform the clients or buyers of what will be required in the closing process. If upon being informed you are still unsure of what to bring, don’t hesitate and feel free to ask questions. Here is a list of the most common things needed for a real estate closing day.
Any form of identification, i.e. a form of photo identification like state issued ID card or license.
Copies of insurance policies you have enrolled for, as well as the required ones like flood insurance and payment proof. Most of these items are often reviewed by lenders prior to the closing day.
The cashier’s check, plus any other payments
The HUD-1 statement of settlement.
The sellers will be expected to come with the home keys and the keys to all locks. In addition, they can also bring along all the user manuals for the appliances or services already present in the house.
