What you should bring to closing when buying a home in Katy TX?

By
Real Estate Agent with Berkshire Hathaway HomeServices Anderson Properties TX Real Est. 567774

 

What you should bring to closing when buying a home in Katy TX?

 

After the contract is completed, inspection(s) are successfully concluded, option period has lapsed, Title Commitment is issued by the Title Company and the Lender has orally stated the loan is essentially approved the buyer needs to get ready for actual closing. Many times I have had excited buyers who want to immediately know what you should bring to closing when buying a home in Katy TX? This is the eighth in my series of 10 articles concerning the Frequently Asked Questions by Clients.

 

Before we discuss what you need to bring to the closing table, all buyers and sellers need to think about utilities. Sellers have to obviously turn off service and buyers in Katy TX have to contract for new service. Some folks for whatever reasons want to almost ignore the utility issue or they just flat out forget. I send my clients a list of potential vendors for utility services. Of course many times there are no choices and there is only one provider. The seller of any property in Texas owns the property through the date of sale. This sometimes is not understood very well by buyers and sellers and for those matter sometimes even agents. The seller should turn off utility service effective with the end of the day when closing takes place and the buyer should turn service on the next day. Sometimes I have had buyers and sellers through their agents agree to slightly different terms just to avoid having conflicting orders made with the applicable utility. The point is the utilities have to be addressed before the actual closing date.

 

The actual moving needs planning in advance of the closing date. This is a huge topic in its own right and I will only state here that good planning is necessary without going into any detail.

 

Buyers you will need to bring with a valid source of identification. This could be your driver’s license, passport, State of Texas issued identification, etc. The valid identification source is needed for all parties who will be on the home’s Title. I have experienced situations where the spouse thought that only one ID was necessary and left their ID at home since their other party had theirs only to have to rush home to get their ID.

 

If one party or both or all parties who will sign the documents l cannot attend then you will need to have a valid Power of Attorney (POA) executed which gives the another party attending the ability to sign on your behalf. In Texas I have found you need to ask the Title Company if they have a specific form which they are comfortable using for the POA. I recently attended a closing where the sellers had their attorney through a POA sign all of their required documents as they were already on the road moving to their new destination.

 

I tell my clients to bring the last version of the HUD 1 Settlement with them so they can follow if changes have been made. I personally go over the HUD 1 very closely as I have found situations where the Title Company made an error. Everyone is human and errors can occur. All buyers and sellers for that matter should review the draft HUD 1 in detail before arriving at the closing table. Ask questions if things do not appear to be correct or if there is something you do not understand.  Most closers in Katy TX take the time to explain the issues they have found over time causes the most confusion with both buyers and sellers.

 

Buyers you will need to bring a cashier’s check to the closing for the amount estimated to be due from you or arrange in advance to send a wire transfer. The applicable Title Company will need to agree in advance if you want to use a wire transfer. Call me if you are my client and I will ask the Title Company if a wire transfer is acceptable. Please note your financial institution will probably charge a separate fee which is higher than normal for all wire transfers and this feature usually has to be set up with the applicable financial institution in advance.

 

I also tell my buyers to make sure they have at least one or more personal check. Most Title Companies in Katy TX will take personal checks from the buyer in situations where there is a difference between the cashier’s check or wire transfer amount and the amount shown on the HUD 1 as being due from the buyer. This situation could also occur if the sellers will still owes a balance after collecting the net proceeds from the sale of the home. Many Title Companies will take a personal check up to as much as $1,000 but it is important to verify the amount with the Title Company. Again if I am your Realtor call me and I will obtain the information. If I am not your Realtor please do not call me to ask for help and do not try to make me sorry for you based on the reasons that your Realtor is stupid, incompetent, lazy, my drunken ex fraternity brother or all of the above. You selected this Realtor and you need accept responsibility for making a bad choice. I am truly sorry if this is the case but as the over used phrase says ‘It is what it is” and “You get what you pay for”.  I have included this statement as this situation has occurred involving myself in the past.

 

Buyers and sellers need to bring a copy of the executed contract with them in case issues arise at the closing table. If I am your Realtor I will bring a copy for all of us to use if necessary.

 

Relax and try to enjoy the closing event. There is a mountain of paper to sign if you are the buyers.

 

 

 

 

 

Posted by

© 2016 Bob Gilbert Real Estate

 

Accredited Luxury Home Specialist

 

Note: Katy TX is about 25 -30 miles due West of downtown Houston TX.

 

If you have any questions about Katy Homes for Sale or Katy Homes for Rent in the Katy Texas and/or Sugar Land TX, and/or Cypress TX and/or other surrounding areas, contact me via my cell: 281-904-6772 or via Email:

 

 

 bobgilbert2003@msn.com or bob@bobgilbert.com

or visit me on my web site at

 

http://www.katyhomefinder.com

or visit me on Google plus

and FaceBook at https://www.facebook.com/bobgilberttx

 

Scan me with your smartphone to bookmark
our mobile website at http://katytx.realbird.com

 

 

 

 

 

 

 

 

 

 

 

Start “Living the Luxurious Dream” Katy TX

 

  

 

 

 

 

 

 

Katy Texas Real Estate Expert

 

 

 

 

 

Read my blog at http://bobgilbertblog.com

 

Search Homes in Katy or anywhere in the Houston area. 

 

© 2007- 2016 Bob Gilbert 

 

 

 

 

 

 

 

 

 

 

 

  

       

                      

 

 

 

 

 

 

 



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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Dale Baker 02/16/2014 05:15 AM
Topic:
Home Buying
Location:
Texas Harris County Katy Kelliwood Estates
Groups:
Realtors®
The Lounge at Active Rain
Posts to Localism
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Tags:
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moving
sellers
closing
utilities
wire transfer
katy tx
cashiers check
houses for sale or rent

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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Bob good to see you back in the Rain and hope you enjoyed your vacation.

Great advice on What you should bring to closing when buying a home.  Suggested.

John

May 31, 2012 08:40 AM #1
Rainmaker
2,050,942
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

John,

Thank you for your comments and we had a great time. I am happy to hear from you and my other AR pals.

May 31, 2012 08:49 AM #2
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Dale Baker
Baker Energy Audits and Commercial Properties Inspections - Claremont, NH
New Hampshire Relocation Real Estate Information

Howdy and afternoon Bob

Bob my friend, this here is such an outstanding series of helpful info for Home Buyers and Sellers. It sure does also show Home Buyers you are the one they want to have helping them with their home buying process.

Folks that stop by and are looking to buy a home in the area of Katy, Texas. I sure can say and give you my word, if I was buying a home there, Bob is the Agent which I would be having help me to do so. 

Have a good one
Dale in New Hampshire

May 31, 2012 08:54 AM #3
Rainmaker
2,050,942
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Dale,

Thank you so much for all of your kind words as i really appreciate it all of the time.

May 31, 2012 09:01 AM #4
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Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

People always laugh when I tell them to bring their drivers license to closing. "I always have mine with me" is what one buyer said. They switched purses that morning and showed up without a drivers license. Had to drive back to Houston to get it and bring it back before we could officially close. It all worked out, but it was a pain for her and the hubby was NOT happy. YIKES!

May 31, 2012 09:55 AM #5
Rainmaker
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Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Good evening Bob.

Great information indeed.

BTW, welcome back to the rain.

May 31, 2012 10:35 AM #6
Rainmaker
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Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

Hi Bob.  Really enjoyed reading this post.   Good info and pretty funny too!

May 31, 2012 07:12 PM #7
Rainmaker
5,456,686
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good advice for home buyers.  A good reminder that personal checks will not be acceptable to cover the cash requirement at settlement.

Have a great day and an outstanding weekend.


May 31, 2012 10:05 PM #8
Rainmaker
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Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Welcome back Bob, I hope you enjoyed your vacation.  Where are the photos?

May 31, 2012 10:38 PM #9
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Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Very good advice from utilities to closing, Bob.  Katy Texas buyers and sellers should pay attention to the details you mention.  Have a wonderful weekend!

Jun 01, 2012 11:15 PM #10
Rainer
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Baker Home Inspection and Commercial Properties Inspections
Baker Residential and Commercial Properties Inspections - Springfield, VT
Home and Commercial Properties Inspections Vermont

Howdy there Bob my friend, you sure post such outstanding Local Info and Real Estate blog posts for folks to enjoy visiting at your outstanding blog full of helpful info. Plus folks sure do always get to find mighty enjoyable reading when they visit. I know other folks sure must also enjoy stopping by to visit your mighty fine blog. Folks if you are needing help with Real Estate, then do take the time to talk with Bob and you’ll sure learn he is the one an only to work along side.

Mar 03, 2014 06:23 AM #11
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Robert Bob Gilbert

Your Katy TX ( West of Houston) Real Estate Expert
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