What to Bring to Closing
Getting to the end of a real estate transaction can be an intimidating journey. As the closing table draws near, here are some things that you will need to make sure you bring to closing, whether you are the buyer or seller.
If you are the buyer…
Bring the Money. You will need to wire the necessary funds to the closing attorney. Most attorneys will only accept funds over $5,000 through wire transfer. It is best to have the funds delivered the day before closing, especially if it is an early morning closing. If you are moving funds from an investment account, give yourself some extra time. If the amount is under $5,000, a certified check may be acceptable. Checks should be made out to the borrowers who will end up endorsing the check to the attorney at the closing. You should have received a copy of the preliminary closing documents at least three days ahead of closing with the anticipated amount you will owe. If you are financing this transaction, the lender will provide funds for the balance due on the home. If the amount you wired ends up being more than what is required of you, the attorney will write you a check for the difference.
Bring a Picture ID. You will need to bring either a valid drivers license or state issued identification. Your signature will be notarized on loan and title documents. Some attorneys require a second form of identification such as a credit card.
It is a good idea to bring a copy of the contract just in case there is a discrepancy.
Bring a hand ready to sign. A lot!
If you are the seller… (or someone who holds title to property)
Bring a picture ID. You too will need to bring either a valid drivers license or state issued identification. Some attorneys require a second form of identification such as a credit card.
Please bring any and all keys. This includes doors, garage doors, mailboxes and pools if applicable, as well as alarms codes and any other information about the house that would be helpful to the buyers.
Bring all receipts or evidence of repairs required as part of the contract.
Before heading to the closing, make sure you notify your current lender and Insurance Company of your new address for any escrow overpayments. You will want to discontinue utility services as of the day of closing so they can send you a final bill.
So there you have it. Closing is intended to be the day when all the stress of your purchase or sale is lifted, but often times forgetting one or more of these tips can lead to additional stress as you furiously scramble to get everything together at the last minute. Think ahead, plan ahead, and your closing day will be one to celebrate!