If you have ever gone through the home closing process, you know that it doesn’t always run as smooth as expected. In an ideal world, the homebuyer and seller come into the closing office, sign on the dotted line, pass the keys over and shake hands. This is almost never the case. Closing on your home can be a long process, but there are steps you can take to prevent complications or setbacks. Below are seven tips that will help you in the process.
- Provide your email address at the very beginning of the process
The most efficient way to communicate with our customers is through email. Not only is this the fastest way, but we are able to provide security with it. Complying with ALTA’s Best Practices, we send all of our emails containing personal information encrypted. This was put in place for your security and is a regular practice for our team.
- Review ALL documents
This is extremely important to do before you arrive on closing day. If you notice something that needs to be changed, this may cause a delay in closing the transaction. Many people do not read through the documents and come closing time they are nervous and just sign away. This can get you into trouble. There may have been a very important piece of information that was passed up. It may be worth having an attorney review the documents as well.
- Ask Questions
Before sitting down at the closing table, you want to make sure all of your questions are answered. Not asking questions could result in inaccurate information or a delay. Do not hesitate to call your closing specialist to ask them what you need to bring. At CSS, we provide a checklist of all the necessary items typically needed on or before your closing.
- Provide all requested information in a timely manner
If your closing officer has requested information, it is important to provide it in a timely manner to ensure the process continues to move forward. Failing to do so can result in a delay in the transaction. Remember, there are several parties involved in the closing process and no one wants to be the one to hold everything up.
- Request a copy of the Title work
In order to confirm that the requirements to clear title make sense, this is one step you need to take. For example, if the title shows Mr. and Ms. Smith and Ms. Smith has died, let the title company know this because there will be additional requirements. When making the request, be sure to have them include copies of the exceptions as well.
- If you have filed bankruptcy or filed for divorce, let your title company know as soon as possible
There are required documents for these two circumstances that need to be requested well in advance of closing. To prevent any delay, it is important that these details are shared in the beginning of the process.
- Wire funds
There are many things that could go wrong when dealing with the money side of things. One thing to remember, personal checks are not accepted. If you have your bank transfer the money, it may not arrive by closing time or could arrive short of what you owe? You can always bring a certified or cashier’s check along with you, but the best approach is to wire the funds. This way, it will arrive a couple days early to the closing officer so if there are any problems, they can be taken care of before it is time to close.