Step 18: 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 sellers, the closing can take around 30-45 minutes or more 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 the buyer's lender gives us the Clear to Close, which means the buyer has been completely approved for the loan. But, this also means that sometimes closing doesn’t get scheduled until 2-3 days before the closing date.
In West Michigan, we normally practice split closings. You will likely not close at the same time or place as the buyer and sometimes not even on the same day.
The home sale is not completed until both you and the buyers have signed all the documents and the loan (if financing) has funded.
If you sign your documents before the buyer does, you will not receive the proceeds of your sale until all parties have signed their documents and the loan (if financing) has funded.
The buyers will not receive the keys until the home sale is complete. I will make arrangements with their Realtor® to exchange the keys, garage door remotes, etc.
There are many times that the closing date will get pushed back, it can be frustrating but it's completely normal to be pushed back by a day or 2. Here is an article that discusses reasons why a closing get's pushed back.
It's best to remain patient and flexible, as its likely very frustrating for the buyer as well.
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.