So you found the perfect home. You have been through tours, appraisals, inspections and setting up the logistics of moving. Now it is closing day! Here is what you can expect when you are ready to close on your new home.
What is “Closing”?
When you make an offer on a house, you choose a “closing date” on the purchase agreement. You may think of this as your “moving date” but it is the day you go to the Title Company and close on your house. To close, means to sign all the documents to make the house yours. This is a day to celebrate and may seem daunting and stressful, but can be very thrilling.
When working with a seasoned agent like Aimee Ness, she will help you prepare for everything before the closing. Aimee and her team will make sure contracts stay within time frames, your lender is kept in the loop, title work is ordered through the Title Company promptly and you are informed of all the communications from the Title Company. This includes reviewing settlement statements so you know what to expect before you sit down at the closing table. The Aimee Ness Realty Group has systems in place to be sure we get to the closing table as smoothly as possible.
What Documents Will I Need To Sign At Closing?
Each closing is a little different depending on the type of property being purchased and the lending, if any, used. Typically the buyers have more documents to sign than the sellers. There are lending documents, escrow documents, disclosures, and others that may need to be notarized. You will receive a copy of all documents from the closing for your records.
How Long Does A Closing Appointment Take?
It seems like a lot of information to review and sign at the closing table. So how long does it take to do all of the work? Typically, a closing appointment takes about an hour. This gives you time to review and understand the documents, speak with your lender about the lending documents, and of course, sign.
Do I Need To Bring Anything To The Closing Appointment?
Yes! Please be sure to bring a valid photo ID to the closing appointment. If you are required to bring funds to the closing, you will need to provide a cashiers check or have a receipt for a wire from your bank. This will be explained to you before closing. Aimee will have all the documents from the transaction if any additional copies are needed.
Do I Have To Do Anything After The Closing Is Over?
The Title Company will file your homeowners exemption with the county. It is best practice to follow up with the County Assessor to be sure all the information is correctly filed as this will impact your property taxes.
In your closing packet you will find your settlement statement. Keep this document handy as it will be useful to your accountant when you file your taxes.
I hope this guide helps you to better understand the closing process and make it seem less stressful. As always if you have any questions, contact the Aimee Ness Realty Group!
For current market information for your Lafayette and West Lafayette communities or a free consultation, contact The Aimee Ness Realty Group Lafayette Indiana. Our team with over 10 years of local experience, has your back to find your dream home, or sell your current home.