Congratulations! You’re ready to close on your home. This is a big step for you and whoever is joining you on this endeavor. In just a few moments, you will own your house or apartment and be given the keys to make it your own. But, before you pop the champagne, you still need to close on the house. This can be a stressful and anxious time with lots of things to remember and prepare.
Thankfully, with a little help from us here at the Denver Luxe Team, we can tell you what to bring and what to expect at the closing table, so you can be on your way into your house in no time!
Step One: Prepare Your Documents
When you go to the closing table, you want to have everything ready to go. Often times, people forget one or two things and this extends the process much longer. If you want to close quickly, then make sure you’re prepared with these items.
If you’re a buyer:
- A government issued ID. Make sure your name is the same as what appears on the ID, unless you bring other supporting documents (like a proof of change in marital status.)
- A second form of ID. For example, you can bring a driver’s license and passport, or a driver’s license and photo ID library card.
- A good funds form of payment, such as the ability to wire funds from bank to bank or a cashier’s check. (This is Colorado law.)
- If the circumstances call for it, an estate document, like a death certificate or personal representative’s deed.
If you’re a seller:
- Social Security number or Tax ID number.
- Keys to the house as well as any other item the buyer will need regarding the home.
Step Two: Know What to Expect
You’ve got all your documents organized in a folder. Great! Now put on your feel-good outfit and head to the closing meeting. Take a few deep breaths and remember to be patient. This won’t be over-with quickly, but if you know what to expect, it will go smoothly.
- The closer will greet both the seller party and the buyer party. Then, he or she will make copies of both parties’ IDs so they can be notarized.
- The closer will review the mortgage documents step by step to the buyer, after which the buyer will sign each page. Any funding conditions will be sent over to the lender for approval or authorization. This can take some time.
- Real estate documents, including the warranty deed, will then be reviewed carefully and signed by both the buyer and seller. These documents officially transfer the deed from the seller over to the buyer.
- The buyer and lender provide good funds to the title company, and the closer will distribute funds to the appropriate parties.
- Once everything is signed, the buyer and seller decide with the closer how they want to receive copies of those documents, either by email or print copy.
Step Three: Get the Keys and Conclude the Meeting
Once you’ve gotten through the nerve-wracking experience of signing everything successfully, it’s time to take a breather. The hard part is over. Now you can finally get your keys! But, a few things first…
- Once everything is complete, the seller will hand the keys over to the buyer, and anything else you may need that pertains to the house.
- While you start moving your furniture into your new home, the closer will record the Warranty Deed, the Deed of Trust, and any other mutually signed documents to the County Clerk’s office.
- In about thirty days, keep your eyes out for the title policy, which will be coming in the mail. You’ll need to keep this safe and file it with your other legal documents.
Buying a home is an exciting but often overwhelming time. But, it should be much more exciting than anything else.
Karina Christensen says, “Buying a home is one of the most important moments in someone’s life. Here at Denver Luxe Team, we want to make the experience a memorable one for you.”
Now when you head to the closing table, you’ll be as prepared as one can be, so you can move into your house as soon as possible.
Need more info? Contact us now at 720-440-2640.
Author: Hana LaRock