THE FINAL COUNT DOWN
It’s one week before you officially get the keys to your home – Woot woot! I’m sure you are tired of packing and ready to be in your new home. Before you get your keys, here is what you can expect one week prior to your official closing date.
The closing disclosure is a complete breakdown of your loan costs. This includes, interest rate, monthly payment, Premium Mortgage Insurance (PMI) if you have it, how long it will take you to pay off your loan (super depressing!) and every other detail about the loan! Nothing should be a surprise here. But make sure to review and call your lender with any questions.
BEFORE THE SALE IS FINAL
As a buyer, you are given the opportunity to perform a final walk through of your soon-to-be home or investment. The intent of the final walk through is to verify that the home is in the same condition it was when you wrote the offer and to verify that all major systems and appliances within the home are working. This does not include any minor dings in doorways, trim or scuffs on the walls. These things often happen when moving.
If the seller agreed to complete repair items during the inspection negotiations and you haven’t verified that they were complete, this is the time to do it. Dependent on what the repairs are, I might advise we rehire the Home Inspector to come out and reinspect the repair items. Ideally invoices and photos are provided to you showing the agreed up work was complete, prior to the walk through.
Finally! – if you are curious if your couch will fit in the living room, or need measurements in any other room. Bring your tape measure and take some measurements – now is the time! This is the last time you will be inside the home before you are delivered the keys as the official Homeowner!
DON'T BE IN THE DARK
I will prompt you to do this about a week in advance. You will call or set up online your accounts, beginning service the day you close. In Washington, the day of “Closing” is synonymous to the day you get your keys, unless you have agreed to allow the seller to rent-back the home.
THE FINAL STEP
Your final signing appointment ideally happens at least 1 day prior to Closing and Funding. It can transpire on the same day, but it isn’t ideal. If you are signing the final documents out of the state, we’ll need to pay extra attention to timeliness. And YES! You can sign your final documents while out of town. AND close on your new home.
Final signing appointments aren’t usually scheduled until the day before they actually happen. Why? The escrow company is waiting on the lender to send over the final documents. Until they have those, they don’t know that they WILL be able to schedule the signing! Much like putting the horse before the carriage.
Allocate at least an hour of time to signing. Although it often takes less, you do have to sign a lot of documents as a buyer.
Signing with a notary
If you have a hard time getting time off OR the Escrow Office is located further that you want to travel, a licensed notary can come to you.
I try to be at every single signing. This is one of the last milestones in purchasing a home and I do my absolute best to be there! If however, the signing conflicts with a prior obligation I can not adjust, I’ll be with you in thoughts and fortunately the professional you are signing with, is capable of answering any and all questions!