cynn81
LIF Infant
Member since 6/10 175 total posts
Name:
Cynn
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Closing question
Not sure if this has been asked recently but how much time did you get between being notified of the closing and the actual closing date(a week, a day,etc...)? Also what must I bring to the closing?
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Re: Closing question
It really depends. You don't usually get a ton of notice, because usually once the file is cleared to close by the bank, the parties try to schedule asap. So it can be a week in advance, but sometimes only a couple of days in advance. Usually, we know early in the week if a closing is being scheduled for the end of that week, or we know by the end of a week if a closing will be scheduled for the early part of the next week.
The exception would be - if it's a cash sale (easier to schedule in advance because you are not waiting on bank clearance or coordinating with a bank attorney) or if the parties' contract contemplated an extended close. For example, I have a sale closing next week where the seller asked to have the closing (that probably could have been in early May, based on the mortgage timeline) to be in late June, so her children could finish school. In that case, we've had the closing date scheduled for several weeks.
As far as what to bring, your attorney will go over everything with you. But you need to make sure you bring photo id (e.g., driver's license). You will need to bring bank checks (your attorney will give you exact amounts, but for the remainder of your down payment, you need a bank check, not a personal check... if you put down 10% on contract and will be putting down another 10% at closing for example), your personal checkbook (for incidentals, like oil left in oil tank, as well as things like the service fee for the title closer), I would bring a copy of your proof of homeowner's insurance (which you will have submitted to the bank ahead of time anyway).
I am assuming you are the buyer. Obviously as the seller, a lot of these items are inapplicable!
But again, definitely ask your attorney and make sure you are clear on what to bring (because different circumstances may dictate different requirements).
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