Congratulations! You have reached another milestone.
You are ready for the final step in the Home Buying Process – The Close!
Closing day is the day you officially become a homeowner, and where the seller signs the house over to you. If you’ve selected your home buying team properly, they will help you to prepare in advance for this final step in the home buying process.
Selection of a Closing Date
The coordination of your closing is the phase of your home purchase where having the right home buying team really makes a difference.
For those that skipped Step 1, the closing is where many of the issues that come with having a poor home buying team surface.
For example, your attorney fails to deliver the necessary closing items on time (title, survey, searches, etc). This pushes off your closing date for days or even weeks. By pushing off the closing, your interest rate lock or loan commitment could expire, placing your loan approval at risk. You may need to cancel movers, or find a temporary place to live. And so on.
Without the proper home buying team working in concert to protect your interest, closing delays may result in additional costs and possibly the loss of your home purchase.
The good news is that your American United Lending Partner is experienced in coordinating the many details that must flow together to ensure a smooth and successful closing. Our award winning closing team has no problem pushing others along in order to help you close on time!!
Schedule Your Final Inspection
Typically the day of (or just prior to closing) you will have your final walk through of the home. This is your opportunity to make sure the seller made all necessary repairs noted in the sales contract and that the home is ready for you to take ownership.
When you applied for your home loan, you received your Loan Estimate (LE) – a detailed estimate of your closing costs. from that, you should have a good idea of the closing expenses you will need to cover.
However, when the final figures are in (title bills, survey cost, attorney fees, property taxes, etc.), the closing costs will then be itemized on a form called the Closing Disclosure (CD). If you’re selected the right lending partner, in most cases the difference between the initial estimate and actual closing costs are minimal.
By successfully completing Steps 1 – 4 of the home buying process, Step 5 should fall into place and provide you with a smooth and successful real estate purchase.
To begin the your journey toward homeownership successfully or for answers to your home buying questions, simply contact your local American United lending professional today. All of our New Jersey local representatives have been down the road you are looking to travel, and have helped hundreds of people just like you! Contact Us Today