We’ll stay in close communication to update you on events and remind you of anything you need to do as we process through financing and final negotiations. Please be VERY RESPONSIVE to any requests coming from your lender or attorney to keep the target dates on track!
What should you be aware of during this time?
Keep this list handy:
- Stay in close touch with me, your lender, and attorney.
- Continue to avoid lowering your credit score with a new credit application or late payments - anything that may change your current score, including buying new furniture on credit!
- Confirm your contract contingencies are resolved, including the appraisal and your financing.
- Finalize your homeowners insurance policy.
- Gather your closing-cost funds in an accessible account.
- Review your closing disclosure form, which you’ll receive three days before your settlement, and ask questions if you don’t understand something.
- Arrange a wire transfer or get a cashier’s check for the funds you need for the settlement.
- Schedule a walk-through of your new home within 24 hours before your closing to check its condition.
What can I expect at the closing?
The attorneys will finalize all of the paperwork for closing on the sale of your new home. Typically the buyer’s attorney will “host” the closing, but you will be in the loop of where and when to show up.
Bring to the closing:
- A government-issued photo ID
- Proof of homeowners insurance
- All paperwork associated with your loan and the home purchase
- Your cashier’s check or wire transfer confirmation for final funds due
- Your checkbook for miscellaneous funds not included on your closing estimate
What paperwork is required to close?
You’ll be signing numerous documents, including a repeat of the documents you signed when you applied for your loan. The most important documents you’ll sign are:
- Promissory note to repay the mortgage
- Mortgage, which gives the lender the right to foreclose if you don’t repay the loan
- Initial escrow disclosure, which outlines the funds on deposit for your property taxes and homeowners insurance bills
- Right to cancel form, which states that you have three business days to cancel the transaction
What’s next?
After your closing:
- Keep all your signed documents in a safe place.
- Change your address.
- Change the locks and security codes on your home.
- Move in!
Congratulations! You’ve got the keys to your new home!
After your purchase, we would be glad to recommend fully-vetted service specialists in town - or you may be interested in how our sister company, Creative Living Home, can coordinate on-going care for your home while you enjoy living in it.
You have our number - (617) 794-1253. Call anytime with anything home related - buy, sell, rent - and we’ll always be ready to spring into action. Thank you for letting us walk along with a piece of your life journey!