Closing Tips for First-Time Home buyers

Here are some tips to help first-time home buyers navigate the closing processes.

1. Final Walk-through – Make sure the home is ready.

Before you finalize the paperwork and sign on the dotted line, you’ll want to do a final walk through to inspected the property and make sure the condition has not changed. If anything is dramatically different since the time the contract was accepted, or if agreed-upon repairs aren’t completed, make sure to bring it up immediately. Take a careful look at the home as this is your last chance before you officially take possession.

2. Signing the papers – Make sure all of the paperwork is in order.

There will be a lot of paperwork at closing, so be prepared. If you can, review all documents ahead of time for misspellings and missing or incorrect information. Mistakes on closing documents can hold up a closing, and if they can’t be easily corrected, it could be delayed by hours or even days. It’s important to take your time and review all of the documents that you are signing and ask questions if anything is unclear.

3. Money – Make sure your funds are ready.

Be sure you know the exact amount you’ll need to bring to closing to cover your closing costs.  It’s also important to find out how the funds are expected to be delivered. You can’t pay your closing costs with a personal check, so make arrangements in advance to have the funds transferred, or bring the payment as a certified check. Make sure you have all of the information you need ahead of time, so you don’t run into any delays or unexpected snags at closing.