You’re almost there! You’ve worked with your loan officer to find the best loan program for you, found a house you love, and got your offer accepted. Now there’s some paperwork and final steps that are all that’s left before you get to officially call this new house your home.
The week of closing will be a busy but exciting time, and it will fly by. You’ll be doing some practical tasks, like preparing your current home for the move. There will also be some aspects you may not be familiar with, particularly if this is your first time going through the home buying process.
No need to worry, though! We’ve got you covered with everything you should expect for the week of closing on your new home.
Pack Up For Your Move
You’ll want to have a game plan for packing up your current home, including your personal belongings and any furniture and appliances you’re bringing with you to the new house.
You can get a head start on some of this more than a week before your closing, so that there’s less left for you to deal with during that final week.
If you’re planning to move on your own, you’ll want to start packing everything up and labeling it. Then, once you have several boxes packed up, you can begin organizing them in your garage or a room in your house close to where you’ll be carrying them out.
If you are enlisting the help of a professional moving service, you should hire a mover as you finalize your closing date to ensure their availability. You’ll probably still have to pack up your items, so getting as early of a start on that as you can means less you’re left doing during the final stretch.
Review Your Closing Disclosure
You’ll receive a closing disclosure at least three days before your closing date. It is a standardized five-page document that includes all of the important, finalized aspects of your loan.
You will need to review it closely, ensuring that your purchase price, loan and origination fees, interest rate, real estate taxes and insurance, closing costs, and any other loan-related expenses are what you agreed to.
For an in-depth review of what to expect on your closing disclosure, check out this article.
Setup or Transfer Your Utilities
You’ll want to enjoy your new home from day one, so the next most important task for your closing week will be ensuring that your utilities and other home services are either transferred from your previous house or that you set up new accounts as needed.
Some common utilities and services that you should have on your list are:
- Water and wastewater
- Garbage pickup
- Cable television
- Security system
- Pest control
If you’re not sure which utility company or service provider serves your new address, you should check with your real estate agent. They’ll be able to point you in the right direction.
There are also online resources available:
Final Walkthrough of Your New Home
You’re so close you can touch it – literally! Before closing day, you’re real estate agent and the seller will set up a final walkthrough. During this walkthrough, you’ll be able to confirm that the house is fully move-in ready.
This will also be your last opportunity to sign off on any conditions of the sale, such as repairs or improvements that the seller agreed to as part of your contract.
If there’s anything that’s not looking up to par, you should let your agent know immediately.
Closing Day and Moving In
The day is here, and it will be a busy one! There will be lots of paperwork to review and sign. Some of the documents you should expect are:
- Your closing disclosures
Standardized form with all of the terms and costs of your mortgage
- Your escrow statement
You may pay future taxes as part of your loan, which your servicer will pay on your behalf when they are due.
- Mortgage or promissory note
Your legal agreement to make your mortgage payments on time and in full until you pay off your loan.
The transfer of the property into your name, with a lien by your lender.
After you make it through the marathon of paperwork, you will get the keys to your new home, and you’re done. You’ve closed on the sale of your new home!
Then comes the fun work. You’ll move in all of your belongings and furniture and start to really make the new space your home.
If you’re buying a home for the first time, it can feel like a lot to process all at once. That’s why we’ve broken down what you should expect and how you can be prepared throughout the entire journey.
You won’t have to go through the process alone, either. Our expert team of loan officers is always available to answer your questions and help recommend the best mortgage options for you.
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The included content is intended for informational purposes only and should not be relied upon as professional advice. Additional terms and conditions apply. Not all applicants will qualify. Consult with a finance professional for tax advice or a mortgage professional to address your mortgage questions or concerns. This is an advertisement. Prepared 10/27/2022.