and decide if any additional repairs or replacements are necessary. If there is an issue, the closing day may be shifted and the repair costs submitted to the escrow account. Do not skip the final walk-through: missing the final walk-though is a commonly reported reason for closure delay.
#10. Get Ready for your Closing Day
Now that you have run the escrow marathon and survived all the possible obstacles in your way, it is finally time to sign the papers and get the keys to your new home. Prepare all the paperwork that you have collected throughout the process. This includes the title search and insurance, inspection reports, bank statements, home appraisal, checks for down payment closing costs, and prepaid interest. There may be several people present at the closing, including your attorney, a seller or seller’s representative, seller’s attorney, real estate agents on both sides, lender’s representative, a title company’s representative, closing agent, and a public notary. The exact number and function depends on the state and county. In some states, it is as few as the buyer(s) and the closing agent, with all documents pre-executed by the other parties. Basically, the purpose of the meeting is to sign the following documents: • Closing Disclosure (CD). e (CD).This document contains your final payments, costs, and charges, as well as all agreed- upon terms and periods. You should receive it three business days before the closing date and compare it with the conditions of the initial loan estimate.
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