Step 9 of the House buying process is our House Buying “Olympic Moment.”
Let’s make it look easy as we sail across the finish line.
Odds are good that there have been kinks and bumps along the way as we have navigated through the first 8 steps.
Keep in mind as you read this, that all of this applies to a Real Estate closing in Nashville, TN . . . If you are in another city or State, the process could differ significantly.
All of the blood, sweat, and tears we’ve all shed in the past 30-60 days pays off in buckets as we gather at the Title to sign the documents for the closing.
Ideally, the Buyer will have just completed a final walk-through of the house to confirm that it’s delivered as promised by the Seller.
The HUD1 Settlement Statement showed up a few days ago and everyone has scrutinized it and corrected any/all discrepancies. Most Buyers will then know how much cash will be required of them at closing and can arrange for those funds to be wired to the Title Company on the day of closing. Alternatively, most Title Companies will accept a certified check . . . Personal checks are generally not acceptable.
We always advise our Buyer Clients to take the day off from work on the day of closing so as to have a clear head.
Real Estate closings do not, by definition, have to be stressful events.
Wear comfortable clothes and relax. Bring a photo ID (Drivers License) and a check book on the chance that there’s a slight miscalculation of the cash to closing.
There will be something in the neighborhood of 40 documents to sign (+/- depending on the kind of loan). An important perspective for the Buyer to maintain is that few, if any, of these documents can be changed at his point without creating havoc . . . so let’m flow. Most of the documents have low significance for the Buyer and are present as “Disclosures and Acknowledgements” required by the lender (and Governmental Regulations).
The important documents to understand are the HUD1 (About the flow of the Money), The Deed (Transfers Ownership), and the Mortgage Note (The terms of the loan – Check the interest rate and other terms).
If the Buyer is selling a house and then buying another, both transactions can be consummated at the same sitting.
After the Buyer and Seller have signed all of the documents and the lender has released the funds to the Title Company, the deed is recorded (most often electronically), and the deal is CLOSED.
All that’s left to do is coordination of keys . . . We always like to get the Buyer able to go straight from the closing to their new house for a celebration.
Indubitably, you have heard HORROR stories about “Real Estate Closings from Hell” . . . In my experience, these seldom happen . . . When things ARE rocky on the day of closing, we can almost always reflect back on the first 8 steps of the process and see when and where things went awry – Invariably due to miscommunication and/or inattention to detail.
Step 9 truly CAN (and should be) an Olympic Moment.
After the closing Celebration, there’s lots more to do, right?
We’ll help ya keep it flowing smoothly with Step 10 🙂
Pareto Realty’s commitment as your Exclusive Buyer Agent is to orchestrate the SMOOOTHEST possible closing experience. Our team focuses 100% on EVERY detail to avert surprises –
WE DO NOT LIKE SURPRISES AT THE CLOSING TABLE!
When there are no surprises, our clients can relax and smile –
When it comes to SMOOOOTH closings,
Connect with us NW to get this process started!
Call us NOW to get this process started