Once all contingencies have been met. You’re happy with the final walk through and the closing agent has given the green light to close, it’s time to make it official and close on your home. Your lender will issue you a” clear to close” status on your loan.
What happens next
Three business days before your closing date, the lender will provide you with a closing disclosure that outlines all of your loan details, such as the monthly payment, loan type and term, interest rate, annual percentage rate, loan fees, and how much money you must bring to the closing table.
At the closing, you (the buyer) will attend, along with your real estate agent. If your agent is not present he or she would have already gone over all the documents to make sure everything is correct and will let the Escrow agent know if anything is incorrect. Your Realtor should be with you at the closing but with the covid-19 virus and social distancing being in effect that will not be possible. At this point all of your closing money should have already been wired to the Escrow company.
Must Do’s at the closing
Review the closing disclosures carefully and compare it to the loan estimate to ensure closing fees and loan terms are the same. Ask questions about any concerns and check for errors before you sign the closing paperwork. Your agent will make sure that you get the keys, garage door openers and anything else that you will need. I hope this information was helpful. If you have any questions fill out the form below!
