How to Avoid a Stressful Closing

Closing day is getting close—and after everything it took to find the home, write the offer, work through financing, and get this far, that’s worth getting excited about. There are still some important details between you and the keys, though. Take care of them early, stay on top of what needs your attention, and you’ll be able to spend a lot more of closing day thinking about where the furniture goes instead of what paperwork you forgot.

YOU’RE ALMOST THERE
An accepted offer is a big milestone, but there are still a few boxes to check before the celebration officially begins. I’ll keep track of the real estate deadlines, contingencies, and other requirements under the purchase agreement and keep you posted as everything moves toward closing.

If you’re getting a mortgage, stay close to your lender and respond quickly if underwriting asks for another document or updated information. And as tempting as it may be to start buying furniture for that new living room, this is not the moment to make major financial moves without talking to your lender first. New debt, large undocumented transfers between accounts, or an employment change could affect financing. The sofa can wait a few more days.

For most purchase mortgages, you’ll receive a Closing Disclosure at least three business days before closing. This is one document you don’t want to skim. Compare it with your most recent Loan Estimate and review the loan terms, monthly payment, closing costs, and the amount you’ll need for closing. If something surprises you, ask about it now rather than discovering it while everyone is waiting for signatures.

Your settlement or closing professional will also give you instructions for delivering your closing funds. Follow those instructions carefully and take care of the transfer with enough time to handle any questions before closing day.

ONE PLACE NOT TO MOVE FAST—WIRING MONEY: Real estate transactions are a target for wire fraud, and fake emails can look incredibly legitimate. Before sending any money, independently verify the wiring instructions with your settlement or closing professional using a phone number you already know to be legitimate. Never rely on a phone number, link, or last-minute change sent in an email. If something changes or feels off, stop. Verify first. Send second.

Then comes one of the moments when the purchase starts feeling very real: the final walk-through. According to the timing provided in your purchase agreement or local practice, you’ll get another look at the property before closing. This isn’t a second inspection. It’s a chance to confirm that the property’s condition is consistent with what you agreed to purchase and that negotiated repairs or other agreed-upon items have been addressed as required. If something isn’t right, we’ll figure out what needs to happen before moving forward.

CLOSING DAY!
Before you head out, confirm where you’re going, when you need to be there, and what you’re expected to bring. Each signer should have the identification required by the closing professional.

Yes, there will probably be a stack of documents. If you’re financing, those may include your Closing Disclosure, promissory note, mortgage or deed of trust, and other loan and settlement paperwork. Don’t let the excitement make you rush through them. Read what you’re signing and ask questions when you need to. Those keys aren’t going anywhere.

Much of the title work should already have been reviewed so questions involving ownership, liens, or other title matters can be addressed in advance. Closing procedures vary by location and may involve a title company, settlement agent, escrow professional, or attorney. They’ll guide you through the requirements that apply to your transaction.

THEN COME THE KEYS
You’ve signed everything. You’re ready to celebrate. Depending on local practice and the terms of the transaction, though, funding, recording, delivery of documents, or other requirements may still need to happen before the purchase is officially complete and you’re entitled to possession. Your closing professional and I will help you know when everything is finished and the keys are officially yours.

When possession is delivered, make sure you receive the keys and any other items that should come with the property, such as garage door openers, access devices, or information provided by the seller.

And before moving day arrives, take a look at the Ultimate Moving Guide, Checklist, and Supplies for reminders that can make the next part easier.

I’ll help you stay on top of the real estate details and communicate with the other professionals involved while we work through these last steps. Closing has a lot of moving parts, but there’s something pretty great waiting on the other side of all that paperwork.

You’ve spent all this time trying to find the right home. Now you’re just a few signatures away from getting to call it yours.