It’s finally here!! The day you close on your new home!! Now what happens?
Closing in Minnesota means you sign your documents and get keys to your new home! It’s exciting and scary all at once. Most important is to prepare and know what you might need to bring to closing. In most cases you will need a cashier’s check made out to the title company for the amount your lender gave you for closing. Make sure you contact your loan officer to know what you need. There are some title companies that may require a wire and it will depend on the amount you need to bring to closing and their requirements. If you need to bring a wire, make sure you contact your title company to get the correct wire instructions. There is a lot of fraud these days with wires. I always like to make sure you have the correct instructions.
Before your closing, you want to make sure you schedule a final walk through with your realtor. You want to go through the home and make sure everything is as you remember. You also want to make sure any repairs you requested are done. This is your time to make sure there aren’t any issues.
Make sure you bring any requirements to closing that you need. Your lender will let you know if there is anything you need to bring. For most, it will be the money you need for closing and also your ID. Make sure you have a valid ID (driver’s license or passport are the most common). Make sure they are not expired.
What are you signing at closing? You will sign many forms at closing, some are very quick and easy to understand, some may be more confusing. I try to send the final closing disclosure out early so you can look it over and know what you need for money – plus it gives us time to correct any errors! The other forms will include the mortgage and note that you are signing on your new home. If you like to read through every form before you sign docs, you will want to ask for a chance to read everything ahead of time. Your closer will go through each page with you but it won’t give you enough time to read every line. If you have questions, please make sure you ask!
In the past (pre-covid!!), your closing was busy – there were several people there but for now, most title companies are asking that only the people that are signing docs attend the closing. I used to try to go to all my closings, now I sit at my office in case there are questions! So if you do have any questions at your closing, please make sure you ask the closer or take time to call your lender or realtor. Sellers are now usually pre-signing so you won’t meet with them, if you have questions for the seller, ask your realtor.
At the end of your closing, you will get keys to your new home!! Celebrate and enjoy your new home!
Leslie Vanderwerf, NMLS ID#335509, Cross Country Mortgage LLC, An Equal Housing Lender, NMLS#3029 – Email – Website
