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How do you close on a home?

On Behalf of | Oct 11, 2021 | Real Estate | 0 comments

When purchasing your first property – or even a second or third – going through the closing process can feel like a lot to deal with all at once. You may also feel strong and plentiful emotions, as closing on a home essentially equates to crossing the finish line.

In order to streamline this process and keep it moving as smoothly as possible, it is important to know the steps you can take to close a home quickly and efficiently.

A lengthy process

Forbes talks about the expectations you should set when closing on a home. This is the first thing you should prepare yourself for: the length of the closing process. This differs depending on your unique circumstances, the state of the market, and the type of purchase you make. Generally speaking, it can take anywhere from 40 to 60 days to close on a home. Conventional purchases typically take the least amount of time, while VA refi takes the longest.

Make sure you go through all the necessary steps to close properly and without problems, too. For one, make sure you have a final home inspection done to catch any potential issues. Buy homeowner’s insurance as well.

Bring what you need

On the day of closing, bring everything you need, too. Take care not to forget important documents, paperwork, or items like a form of identification such as your driver’s license. You will also likely need proof of homeowner’s insurance and a certified check or cashier’s check for the closing costs.

It helps to have an attorney guiding you through, too. This ensures you do everything according to law and will not need to double back and redo anything.