What Should I Bring a My Closing?

The closing is the last stage in the real estate transaction. It's the day you finalize a real estate transaction and transmit money and keys. You'll formally own a new house at the conclusion of the closing.

What to Expect During Closing Procedures

A closing is the final step in the purchase of real estate, and it involves two stages: a closing on the acquisition of real estate and a closing on the mortgage loan used to acquire that property. Deeds, mortgages, and other necessary documents will be signed or delivered to complete these two steps.

The escrow agent will act as the impartial third party by holding legal papers and money for the buyer, seller, and sometimes a lender during the closing. The agent will distribute all relevant paperwork and funds according to lender recommendations and ensure that both parties fulfill their duty obligations.

What should I bring if I'm closing?

• There are two types of credentials that you must possess. One must be government-issued and include a picture, such as your driver's license or passport. The other must have your name on it, such as a social security card, credit/debit card, insurance card, wholesale membership card, or library card. Note if you are bring your passport be sure your sign your passport prior.
• The funds must be certified funds (cashier's check) made payable to the closing company. A wire transfer directly to the escrow account of the closing company is also acceptable. Please contact your settlement agent for wiring instructions.
• All loan participants, as well as their spouses, must sign the loan papers to complete the transaction.

How long does the closing process take?

Closings can range from three hour to 30 minutes, depending on the type of transaction and your lender. At the end of the day, you'll be a new homeowner or have a new house. This isn't something that ought to be rushed through during your lunch break. If things don't go well and this meeting has to last longer than planned, make absolutely sure you have plenty of time for it.