Your offer has been accepted, your loan is almost done processing and you are starting the sprint to closing day. Although this final step in the home buying process can be exciting, there are many things that you should do to prepare for closing so it can go smoothly—and so you can get moved into your new home as quickly and easily as possible. Check out our top 5 ways to prepare for closing to help the big day go off without a hitch.
Review Your Loan Documents in Advance
Getting a loan to closing is a tricky process, and you want to make sure that all your ducks are in a row before you get to the closing table. To make this easier, and to put your mind at ease, request to review your loan documents at least 24 hours before your closing is scheduled. You can compare this information to your good faith estimate, and even review the documents with your agent and attorney if you wish. Reviewing these documents in advance gives you time to spot mistakes so there are no surprises, so you can feel good about signing on the dotted line.
Unless you’ve got a truck or a whole bunch of extremely helpful friends, chances are you will need to enlist the help of a professional moving service once you close on the home. Unfortunately, movers are in high demand, so it is important to prepare in advance by hiring movers once your closing date is set. Don’t make the mistake of procrastinating on hiring movers, or you might be stuck without the means to move into your new home.
Transfer Your Utilities and Home Services
To make sure that you have power and water for your first night in your new home, it’s important to remember to transfer your utilities to your new residence. You can do this a few weeks in advance if you want to get it off your plate so you can focus on other things as you move toward you closing date. In addition, don’t forget to notify cleaning services, dog walkers, babysitters, and other services of your move, so they can find you when you need them. While you’re at it, stop by the post office and have your mail forwarded, too.
Don’t Forget the Cash to Close
In all the hustle and bustle of the closing process, don’t forget to snag one of the most important things you must bring to the table—your cash to close! The loan documents that you hopefully requested in advance will tell you what is expected on your closing date, and usually the money is required in certified funds. In some cases, wire transfer is an option, but check with your closing team to make sure you don’t delay the closing process. Along with your funds, be sure to bring your photo ID with you.
Plan to Take Time Off Work
While some closings can take just a few minutes, you never know until you get to the closing table to sign and receive your keys just how quick a closing will be. Instead of attending closing during your lunch break, plan to take an entire day off work and arrange child and pet care just in case you get held up. Planning for a full day will allow you to relax, take your time with the closing documents and enjoy the feeling when you finally have the keys to your new home in your hand.
Closing doesn’t have to be a daunting process. At the NC Housing Finance Agency, we collaborate with participating lenders who know products like the NC Home Advantage Mortgage™ well. If you’re looking for a lender, check out our Find-a-Lender feature!