{"id":32131,"date":"2019-09-09T16:29:21","date_gmt":"2019-09-09T20:29:21","guid":{"rendered":"https:\/\/bhgrealestateblog.com\/?p=32131"},"modified":"2024-12-30T11:03:32","modified_gmt":"2024-12-30T16:03:32","slug":"closing-day-checklist","status":"publish","type":"post","link":"https:\/\/bhgrecareer.com\/bebetterblog\/closing-day-checklist\/","title":{"rendered":"The Ultimate Closing Day Checklist for First Time Home Buyers"},"content":{"rendered":"\n

A real estate agent who guides first-time homebuyers\nis sure to get referrals. First-timers are often concerned about something\ngoing wrong until they receive the keys to their new home. Sharing the ultimate\nclosing day checklist lets newbies know what to\nexpect on one of the most exciting days of their lives. An agent helps buyers\nhave a successful closing day by <\/a>helping them to be well-prepared<\/a>.<\/p>\n\n\n\n

Verify All Conditions Have Been Met<\/h4>\n\n\n\n

Review the list of contingencies with your client\nbefore heading to the closing table. Typical contingencies include a home\ninspection, appraisal, and approval for a mortgage loan. Only set a closing\ndate if the house passes inspection, appraises at fair market value, and the\nbuyers’ mortgage is approved.<\/p>\n\n\n\n

Verify the title search is clear, and title\ninsurance is purchased to protect the new buyers from any legal claims to the\nproperty. And review the Closing Disclosure and Loan Estimate statements\n(formerly known as the HUD-1 Settlement Agreement) before closing. These\ndocuments outline the mortgage payments, terms of the loan, additional fees,\nand closing costs that must be paid at the table.<\/p>\n\n\n\n

Schedule the Final Walk-Through<\/h4>\n\n\n\n

From final loan approvals to title reports, most of\nthis information comes in just days before closing on a home. Within 24 hours\nbefore closing, the buyers are permitted to do a final walk-through of the\nhouse. Buyers need to carefully inspect the property to ensure it is still in\nthe condition specified in the contract.<\/p>\n\n\n\n

If the sellers agreed to make repairs, they should\nall be completed before the final walk-through. And buyers should also be sure\nthe previous owner has vacated, or has plans to move, within the time allotted\nin the contract. If the repairs are not completed or something is not per the\ncontract of sale, it is crucial to reach out immediately to resolve the issues\nbefore closing.<\/p>\n\n\n\n

Gather the Required Documents<\/h4>\n\n\n\n

Closings are usually held at the title company,\nattorney’s office or real estate agent’s office. Some closing documents might\nbe signed digitally. Buyers should know the necessary documents to provide at\nclosing, such as:<\/p>\n\n\n\n