{"id":2524,"date":"2016-06-29T11:11:23","date_gmt":"2016-06-29T18:11:23","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=2524"},"modified":"2016-06-29T11:50:23","modified_gmt":"2016-06-29T18:50:23","slug":"what-to-expect-at-the-closing-table","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/06\/what-to-expect-at-the-closing-table\/","title":{"rendered":"What to Expect at the Closing Table"},"content":{"rendered":"<p style=\"text-align: justify;\">It\u2019s the final step in your home purchase or sale, the closing. In the most simple terms, a mortgage closing transfers ownership of the home from the seller to the buyer.\u00a0 After the buyer and seller leave the table, the deal is done. The buyer has the keys to their new house and the seller\/ mortgage company has the money.<br \/>\nIf you\u2019ve never closed on a home before or haven\u2019t done it in a while, it can seem daunting. But if you are prepared, it will be much easier. Here are a few things to do and what to expect from the closing :<\/p>\n<p style=\"text-align: justify;\"><strong>What to do before the closing?<\/strong><br \/>\n\u2022 Read everything. If you don\u2019t understand any of the documents or the process, ask your lawyer. If you\u2019ve read everything prior to the closing then all you will have to do is affirm that you understand. This will make the closing process much faster.<br \/>\n\u2022 BUYERS : Complete your final walk through. Not completing the final walk through can and will delay a closing.<br \/>\n\u2022 BUYERS : Keep credit even. Don\u2019t open any new credit cards, run up large balances on current credit cards or purchase furniture on credit. If you do, this could be a red flag to the lender and could delay or cancel your closing.<br \/>\n\u2022 Confirm the location of the closing. Your Realtor will provide you with the location. Some lenders have it at their offices, others have it at a title company or real estate attorney\u2019s offices.<\/p>\n<p style=\"text-align: justify;\"><strong>What should you bring?<\/strong><br \/>\n\u2022 A copy of all of your paperwork<br \/>\n\u2022 Your valid, government issued photo ID<br \/>\n\u2022 BUYERS : Bring a certified cashier\u2019s check (or wire) for the closing costs made out to the title company\/closing company. It\u2019s also a good idea to bring your checkbook in case the estimate is off.<br \/>\n\u2022 SELLERS : Bring all the keys to the house. This includes key-less entry codes, alarm codes, and garage door openers.<\/p>\n<p style=\"text-align: justify;\"><strong>What actually happens on closing day?<\/strong><br \/>\n\u2022 The buyer or the buyer\u2019s lender will transfer money to the bank\/owner via check\/wire transfer<br \/>\n\u2022 Seller signs the deed over to the buyer<br \/>\n\u2022 Title company registers the deed with the appropriate offices<br \/>\n\u2022 The seller receives proceeds from the sale after all balances and closing costs have been paid<br \/>\n\u2022 The buyer receives the keys, access codes and garage door openers to the property<\/p>\n<p style=\"text-align: justify;\"><strong>Who will be there?<\/strong><br \/>\nThis varies from location to location, but generally the cast of characters includes :<br \/>\n\u2022 Mortgagee (you and every person named on the mortgage)<br \/>\n\u2022 Home seller and seller\u2019s real estate agent<br \/>\n\u2022 A title company representative\/attorney\/lender representative \u2013 there to ensure everything is properly signed and filed<br \/>\n\u2022 Buyer\/Seller attorneys<\/p>\n<p style=\"text-align: justify;\"><strong>How long will the closing take?<\/strong><br \/>\nA closing can take anywhere from an hour to several hours, so plan accordingly. If you review all the documents prior to the closing, it will expedite the process. But that doesn\u2019t mean you should rush the closing. Take time to ask all the questions you need to ask. These are legally binding documents, so you should be clear on what you are signing.<\/p>\n<p style=\"text-align: justify;\">The good news is a great real estate agent will walk you through every step of the process to make you feel comfortable.<\/p>\n<p><a href=\"http:\/\/coldwellbankerapps.com\/wordpress\/the-house-hunt-what-to-expect-at-the-closing\/?platform=hootsuite\" target=\"_blank\">What to Expect at the Closing Table<\/a> by Alicia Eisenbise | Coldwell Banker Dream Blue<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s the final step in your home purchase or sale, the closing. In the most simple terms, a mortgage closing transfers ownership of the home from the seller to the &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/06\/what-to-expect-at-the-closing-table\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-2524","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What to Expect at the Closing Table &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/06\/what-to-expect-at-the-closing-table\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"What to Expect at the Closing Table &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"It\u2019s the final step in your home purchase or sale, the closing. 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