We are in the home stretch! It’s essential to schedule the closing on your calendar and arrange to take the day off from work. Here are a few things to know about your closing date:
- Some factors could cause it to be pushed back (if BOTH Buyer’s and Seller’s agree), such as a tight time frame for closing (anything 30 days or less), causing the mortgage company to need more time, etc. However, for planning purposes right now, count on your closing date being the final date.
- Closing generally takes place at a Title Company downtown. Closing takes about 1 hour, but if there is a problem, it could take up to 2 hours. For this reason, it’s recommended that you arrange to take time off from work. We can’t specify a specific time but can sometimes request either morning or afternoon. If you have a time preference, please let us know.
- The closing start time won’t be scheduled until your mortgage officer gives us Clear to Close (CTC), meaning you’ve been ultimately approved for the loan without any conditions. This generally occurs 2-3 days before your closing date and is when we’ll be notified of the exact location and start time.
- It’s best if you attend the closing in person; we always encourage clients to attend closing as it’s important you understand the closing documents (which will be emailed the day before your appointment typically) when your first mortgage payment is due, how/when you make your first mortgage payment, etc. All of that will be explained at the closing.
- The day prior to closing, you will need to wire transfer your down payment and closing costs to the title company. The wire instructions for this transfer will come from the title/escrow company. Do not follow anyone else’s instructions unless it comes from the individual identified at the beginning of the transaction as the closer. There are many scams out there targeted at buyers where scammers will email you fake wire transfer instructions in an attempt to steal your money. Please view the wire fraud email we sent earlier.
- Legally, you can’t move into the house until 9 pm the day the deal closes.
- At the very end of closing, I’ll let you know what we will do to hand off your keys after 9pm.
Questions? Contact us at andi@andidyer(dot)com or 360-734-6479.
This content is not the product of the National Association of REALTORS®, and may not reflect NAR’s viewpoint or position on these topics and NAR does not verify the accuracy of the content.