Considerations for a Successful Closing

• Any contingencies surrounding the sale of the home including approved financing or sale of the buyers existing home will need to be completed or removed from the agreement. The will keep any surprises from arising at the last second that could impede the progress of the closing.

• The appraisal of the property by the lender should be complete and the loan in a ready state for completion. A quick check with the lender to make sure all documentation is in order and there are no last minute requests or confusion regarding the loan. the appraisal is required by the lender in most cases to ensure that the value of the home you're buying will indeed back the value of the loan being made.

• Your real estate agent will work with the closing company (usually a real estate law firm) to make sure the paperwork is completed for the closing. You will get a copy of the settlement form to review prior to closing at which time your agent can explain the items in the form and make sure you fully understand your closing costs. This is the form that lists the seller's and buyer's financial responsibilities surrounding the sale of the house including the home price, the loan amount, prorated expenses such as taxes, insurance and recording fees.

• Signing the documents at the closing will be a breeze as you're excitedly anticipating moving into your new home. The closing documents will have specifics included such as the date you'll take possession and when the seller will present you with the keys. In many cases you'll get the keys at closing and take immediate possession but other arrangements can be made between the buyer and seller allowing extra time to move out for the seller if need be or scheduling in the case the buyer is coming from out of town in the near future.

• The closing documents will have been completed and the attorneys will then submit he needed documents to have the deed publicly recorded in the county's courthouse.

• The closing will also likely involve an exchange of money from your lender to the seller as well as any other checks to be disbursed as part of the closing process. This will likely occur at the closing table but could be delayed a few days. The mortgage will also be submitted for public recording at the courthouse.

• Everything is now squared away with the purchase of your new home and you're ready to move in. It's amazing how much less the stress is when you're moving into your new home as this is the beginning of a long lasting bond between you and your new property.