Episode 9: Pre-Closing
Pre-Closing is the period of time coming right before closing. If we’ve done all of our homework up to this point, then we will be right on track and there will be no need for stress. There are a couple of responsibilities you have before we are clear to close however.
The lender will send you a closing disclosure, which you have to sign. The closing disclosure just outlines all expenditures and fees from closing. They are required by law to give this to you and have you sign at least three days before closing. You want to be sure to sign this on time, that way closing can happen on time as well.
Next, you want to make sure to have your home warranty policy in place. Sometimes this is paid for by the seller, and will not cost you anything or at least very little. You want to have this warranty taken care of before closing as well.
Make sure to set up your utilities, so that they will be ready for you when you take possession of the home. Whether you are moving in a day after or two weeks after closing, you want to make sure to have your utilities ready for you. Remember you will have to adjust your timeline if there is a leaseback as well.
Lastly, I always like for my clients to do a final walkthrough about 48 hours before closing. This is an important step because we want to make sure the house is in the same condition as when you first went under contract. You also want to make sure that any requested repairs were completed up to your level of satisfaction. If those repairs were extensive, then it is a good idea to have the inspector com back to the house as well.
Once you have completed these steps, you are clear to close! Congrats!
