This is the final blog in a series called So You Want to Buy a Home. Now What???
Congratulations. It's closing day! It's finally here! But you have a few more things to do before it's yours.
Be sure to have identification with you at the closing. Usually a driver license will do but check with your Realtor to see if anything else is needed.
You should have received wire instructions from the title company or attorney that is facilitating the closing. You will need to go to your bank and have them wire the amount of money that you are required to bring to closing preferably the day before or the morning of your closing.
A word of caution: Wire fraud as it relates to real estate transactions and intercepted emails, is happening more and more. It is important to verify that the wire instructions you received are correct. Call the title company and read the instructions to them, especially the account numbers. If they can verify that the information you have is correct, then it's safe to take those instructions to the bank and transfer your funds to the title company's account. Don't skip this step and risk being a victim of wire fraud.
Next you will go to the house with your Realtor to do a final walk through to be sure the home is exactly as it was when you signed the contract. Some of the things you want to check include that the same kitchen appliances, water tank, washer/dryer (if they were included on the contract), light fixtures are still there along with anything else that was included in the contract. Check the AC unit and for any damage that wasn't there before. If there is a problem, your Realtor will address it with the sellers agent to come up with a solution. When that is resolved, you can go to the closing.
Both you and the seller will have lots of papers to sign including the settlement statement and loan documents. The settlement statement lists all the expenses and any credits that both you and the seller is responsible for. The closer will go over this with you. There should be no surprises on this statement as you will have received a final list of expenses related to your loan from the lender and a list of expenses from your Realtor prior to the closing. You will need this statement when your file your income taxes for the current year. So keep this, your loan documents and all the papers you will sign in a safe place.
There is one final step: To receive the keys to your new home! You did it. You're a home owner !!! You can celebrate!
Congratulations !!!
If you live in the Tampa Bay area or are moving here and need to buy a home, call me and lets chat about your needs, wants and dreams related to home ownership.
I'm here to help !
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