Introduction
Buying a home is exciting but can also feel overwhelming, especially leading up to closing day. Many buyers have questions like: “What do I need to bring?” or “How do I handle last-minute changes?” Understanding the usual steps can help ease your stress on this big day.
Prior to Closing
- Financial Preparation: Bayer Law provides an estimate of closing costs and recommends wiring funds in advance to avoid last-minute issues.
- Utilities: A week or two before closing, you should ensure you have established accounts with all needed utilities. In Connecticut, the exception is water, where the Seller’s attorney transfers service.
- Movers: If possible, I recommend not scheduling your move for the closing day. It is impossible to guarantee the closing will be complete before mid-afternoon, and the uncertainty of a definitive time adds considerable stress if the moving truck is waiting in the driveway.
What to Expect on Closing Day
- Final Walk-Through: Before heading to the closing, perform a final inspection to ensure the property is in the agreed-upon condition.
- Document Signing: If financing is involved, you must sign mortgage paperwork, which can take around 45 minutes. This is usually done at the Buyer’s attorney’s office and involves just the attorney and clients.
- Funds Transfer: After the Seller’s documents are delivered to the Buyer’s attorney and any necessary funding authorization is obtained from the bank, funds are wired to the seller’s attorney, completing the transaction.
Important Considerations
- Last-minute changes may occur due to lender updates or Seller delays. This is infrequent but does happen on occasion.
- Bayer Law’s proactive approach minimizes these uncertainties, ensuring a smoother process.
Conclusion
Closing day marks the last step in your home-buying journey. For a seamless experience, trust Bayer Law PLLC to guide you through every detail. Contact us for personalized assistance with your next real estate transaction.