The Closing Timetable
The Closing Timetable
The Closing
- Introduction
- Before the Closing
- Home Inspection
- Sample Closing Costs for Items Paid by Buyer
- The Closing Timetable
- Loan Closing Checklist
- Tax Documentation
The Closing Timetable
Five to Ten Business Days Before You Close:
- If you haven't locked in your mortgage interest rate, now is the time to get this done. Call your lender representative or your attorney.
- Call your broker to schedule your pre-closing walk-through inspection of the premises.
Two to Three Business Days Before You Close:
- Call your attorney to review your closing costs, escrow amounts, and the amount of money you'll need to bring to the closing itself.
- Make arrangements to get a certified check or cashier's check for the closing cost figure given to you by your attorney.
At the closing, documents will be signed and exchanged, money will pass to the seller, and title to the property will pass to the buyer. The sellers and their attorney, you and your attorney will meet at a pre-appointed time and place. All documents will be ready and prepared by the attorneys. You will have been notified a day or two before the meeting of how much money to bring with you. By this time the RESPA form has already been prepared, so have your attorney send you a copy so you can review it before the closing.
As you go along, your lawyer will explain what each document is that you are signing, and why. Ask questions. This is an important and costly transaction; don't be shy, it is your money.Share Article:
Deposit and Loan Products are offered to qualified customers by First National Bank. See specific deposit and loan product pages on this website for more detailed information. First National Bank is a MEMBER FDIC and an EQUAL HOUSING LENDER.
Investment and insurance products and services are offered through Osaic Institutions, INC. Member FINRA/SIPC. FNB Wealth Management Services is a trade name of First National Bank. Osaic Institutions,Inc and the bank are not affiliated. Products and services made available through Osaic Institutions, Inc. are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.
NOT FDIC-INSURED. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT GUARANTEED BY THE BANK. MAY GO DOWN IN VALUE.
