Mark Slade - FirstTimeBuyer

will work with you if the transaction doesn’t close on time, failure to close opens the door to canceling the sale, which may occur in a seller’s market if the seller has taken backup offers — offers that are potentially better than yours. Closing can be held in any agreed-upon location. For example, at the attorney’s office, or at your lender’s or title company’s offices. #9. Be Present at a Walk-Through A final walk-through is a last chance to see your future house before you buy it. Commonly, it is scheduled 24 hours before the closure. The property should be in the condition specified in your sales contract. You may inspect for any changes made subsequent to the home or pest inspections. Confirm that everything is in order 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.


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