The Final Countdown: Steps to Take One Week Before Closing on Your House
As you edge closer to the closing date of your new home, the anticipation builds. However, it’s crucial to stay focused – the final week before closing is pivotal to ensure a smooth transition from buyer to homeowner.
At St. Cloud Mortgage, we are here to guide you through the essential steps to take just one week before you get the keys to your dream home.
1. Confirm the Closing Date and Time
First and foremost, confirm the closing date and time with your real estate agent. This may seem obvious, but with the number of people involved in the closing process, confirming the details can help prevent any last-minute confusion or scheduling conflicts.
2. Complete a Final Walkthrough
Schedule a final walkthrough of the property. This is your last chance to ensure everything is in the agreed-upon condition and that any repairs that were supposed to be made have been completed. Check all fixtures, plumbing, electrical systems, and appliances. If there are any significant issues, this is the time to address them before closing.
3. Review Closing Documents
You should receive your closing disclosure form (CD) at least three business days before your closing. This document is critical as it outlines the terms of your mortgage and the closing costs. Carefully review all details and compare them to your loan estimate to ensure there are no discrepancies. If anything doesn't add up, contact your lender immediately to clarify.
4. Secure Homeowner's Insurance
If you haven’t already secured homeowner's insurance, now is the time to do so. This insurance is essential, not only to protect your new investment but often as a mortgage requirement. Provide proof of insurance to your mortgage lender as soon as possible to avoid any delays in the closing process.
5. Arrange Utilities
Contact utility companies to set up services such as electricity, water, gas, and internet to start either the day of closing or the day after. Ensure that utilities in your current location are scheduled to end after your move-out date to avoid any overlap.
6. Confirm Funds for Closing
Ensure you have the required amount for closing readily available. This generally means having the funds in an accessible account ready for a wire transfer or preparing a cashier's check. Double-check with your closing agent about the preferred method of payment and the exact amount needed at closing.
7. Pack and Prepare to Move
Begin packing and organizing your belongings for the move. Label boxes by room and contents to facilitate an easier unpacking process. Planning logistics beforehand can save you a great deal of stress on moving day.
8. Keep Communication Lines Open
Maintain clear and constant communication with your real estate agent, lender, and closing attorney. Being proactive in communication helps resolve any potential hurdles quickly and ensures everyone is on the same page.
9. Plan for Closing Day
Plan the logistics for closing day. Consider how much time the closing will take, the travel time to the closing location, and any other engagements you need to accommodate on that day. Make sure to bring all necessary documents, including your ID, proof of insurance, and closing funds.
While the closing process can be intricate and demanding, being well-prepared can lead to a more enjoyable and stress-free closing day. With one week to go, following these steps will put you in the best position to smoothly transition into your new home. At St. Cloud Mortgage, we are committed to helping you through every step of your home buying journey. Should you have any questions or need further assistance, feel free to reach out. Welcome to the exciting final stretch toward homeownership!
Shelvin Dean
