Just a quick note:  Most clients that we deal with are usually most concerned / confused with the inspection process and closing.  The inspection process, for both buyer and seller, is always touchy because you never know what the home inspector can find and throw a wrench into a deal.  The closing process is different.  Its a whirlwind of paperwork, explanation of a HUD-1 (to be honest, before I got into real estate, a HUD sheet instantly made me glaze over with all of the fees and figures and who owes what to whom), check distribution, and finally, handing the keys over.

This quick little article courtesy of Coldwell Banker’s Blue Matter explains some of the hurdles that some people face during the closing process and what to expect at a closing.  Most agents (including our Group) will provide you exactly what you need per the title company in order to make the closing go smoothly.

Here’s to happy homeownership!

How to Simplify the Home Closing Process
by Lindsay Listanski

It is common to feel anxious while completing the home buying process and the last thing one wants is a last-minute surprise while they’re closing on their home. The closing process is the final hurdle you’ll face after you have agreed to purchase a home, however it is important to be prepared to avoid obstacles that may delay the sale. There are several steps which can help ensure the closing process goes smoothly.

Understand the closing procedure
It is crucial to fully understand the process of closing negotiations prior to entering into the closing. By knowing what to expect, one can ask appropriate questions and clarify aspects that they may not understand. It’s also to ensure that all parties are kept in the loop. Human error is natural. According to MSN Real Estate, details that get lost in the cracks can lead to delayed or canceled home sales. For this reason, it is extremely important to work closely with your agent so that you understand what to expect. Remember, no question is a silly question! Your agent is there to help and has the experience and understanding of what to expect during the closing process. They will also assist you with the important step of identifying and gathering all documents that should be brought to closing negotiations.

Review documents
Missed details in loan documents can either lead to mistakes in the paperwork or leave buyers with a product or payment scenario they are unhappy with. Reading loan documents may seem time-consuming, but it’s the best way to resolve potential problems or misunderstandings before they occur. Lenders are required to provide buyers with their loan documents, by request, at least 24 hours before the closing, so re-read the contents to make sure you understand what you’re signing.

In addition, make sure you have all that you need the morning of closing, including your check. The loan documents should spell out the amount required to bring to the closing. In some cases checks may need to be certified in order for the lender to accept it. You may have the option to wire transfer the funds, but this can take longer and delay closing, thus having a check ready may be in the your best interest. In addition to the check, bring a photo ID copy, homeowners insurance policy and good faith estimate, on top of loan documents.