Buying a new home is exciting, but the actual closing can be stressful. Knowing what to expect can give you the confidence you need during this last step of buying your new home. The average home closing takes place between four and eight weeks after the offer on the house has been accepted. Before scheduling the closing, these things need to happen: home inspection and appraisal, funding approval, and title search.

Closing Day

Closing day on your new home is when the seller will transfer ownership of the property to you, the buyer.  All the paperwork needed to make the change in ownership official is signed, witnessed, and notarized. Then, funds are transferred from escrow to cover the mortgage and title fees, and the deed to the property is drawn up in the buyer’s name.

 Paperwork

Be sure to bring everything you need to the closing, so things aren’t delayed. Essential things to bring along are a photo ID, proof of insurance, and a cashier’s check.

 Before Closing

Be prepared for the closing day ahead of time to ensure things run smoothly:

• Contact your closing agent ahead of time to get final instructions.

• You should receive your closing documents at least three days before the closing. Be sure to read them carefully, check for errors, and understand what you are signing. Be incredibly diligent when looking at the spelling of your name, address of the property, and amounts.

• Your closing disclosure should be close to the estimate given to you during the loan processing phase of your purchase. Therefore, there should not be any significant monetary changes.

• Make sure to double-check everything on the final walk-through checklist. Once the closing has occurred, you will not have any recourse for items not taken care of before the closing.

• Check with your banking institution to ensure that the funds you will need for the closing are available before the closing date.

• Enjoy your new home!

Fleet Title can help you with all of your real estate settlement needs. To learn more about the services offered, visit fleettitle.com, call (772) 224-3338, or email them at info@fleettitle.com.