4 Ways Buyers Can Prepare for Closing

Bay Area Real Estate Podcast with Greg McDaniels

When you have had your offer accepted and are on your way to the closing table, there are still a few things you need to take care of. Today I will highlight four ways to prepare for closing.

Looking to buy a Bay Area Home? Search all Bay Area homes for sale. Selling Your Bay Area Home? Use our home evaluation tool.

What happens at the closing table when you’re buying a house?

Today I will go over what to expect, as well as a few crucial do’s and don’ts to follow as you move through the process. Keeping all of this information in mind will be very important in making sure you get the keys to your new home with no problems.

1. Schedule the closing. Most of the time, your agent will coordinate with all parties involved to schedule the closing for you. That said, it is still important to make sure this gets done. Also, make sure you take your time at the closing table. Don’t try to squeeze in the meeting over your lunch hour, because there will be a lot of critical documents to look over. I recommend taking a half-day to make sure you’ve got adequate time to review all papers carefully.

2. Do a final walk-through. As a buyer, you have the right to go through the home within five days of closing and make sure that it’s still in an acceptable condition. You are entitled to take possession of the home in the exact state it was in when your offer on the property was accepted.

Any changes to your debt-to-income ratio will pose a huge threat to the success of your home purchase.

3. Take all the documents with you to closing. If any issues arise, you will be able to provide any and all necessary paperwork needed to resolve those problems.

4. Keep in mind the things that could go wrong with your deal. There are a few pitfalls you may encounter. This includes things like the bank pulling out at the last minute or an unexpected lien showing up, but the greatest problem that could occur is actually within the buyer’s control. Any changes to your debt-to-income ratio will pose a huge threat to the success of your home purchase. This means that you need to make sure you put off any major purchases, especially those made on credit, until after closing.

There are many more things to keep in mind before proceeding to closing when buying or selling a home. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.