Step 13: Closing Date on Calendar
Closing Date on Calendar
Make arrangements for the day of closing to be off of work, childcare, etc, but also remain flexible.
Here are a few things to know about your closing date:
It could change. While your team of experts working through your transaction make every effort to get you to the closing date that’s on your contract, there are many factors that could cause delays.
Closing typically takes place at your Title Company. For buyers, the closing can take 1 hour or more if there are issues found or if you need time to read through all the documents. Please plan your day accordingly.
We will not be able to schedule your closing until your lender gives us the Clear to Close, which means you’ve been completely approved for the loan! But, this also means that sometimes closing doesn’t get scheduled until 2 days before the closing date.
If you will be wiring money to the title company, please, PLEASE confirm and then reconfirm instructions. NEVER EVER trust an email or link in an email from Title (or anyone!). ALWAYS call the title company to confirm wiring instructions and ALWAYS confirm the email address that an email is being sent from. Basically, be suspicious ALWAYS when it comes to wiring your money. There are many schemes to defraud buyers and you must remain vigilant.
In West Michigan, we normally practice split closings. You will likely not close at the same time or place as the seller and sometimes not even on the same day.
If you sign before the Seller, you will not get the keys to the home until the Seller has signed their documents and the loan has been funded.
If you plan to move into the home the day of closing, make sure you schedule the move AFTER you AND the Seller have signed all the documents to make the home legally yours, which is after the bank funds the loan and transfers the money to the seller.
You do not own the home until the seller has signed their documents and the lender has funded your loan so the seller can get paid.
Empowering clients to build and preserve wealth through real estate.
Ready to connect? Reach out! I look forward to helping you on this journey!
Monique Hanson is a REALTOR® serving the greater West Michigan area. Monique helps people buy and sell homes in Kent, Muskegon, and Ottawa Counties. You can contact Monique by calling or texting 616-805-9177 or emailing hello@moniquehanson.com.