Closing/Settlement
We’ve got an accepted offer from the seller and the inspections are done…now what?
The Kelly Domaille Team will recommend a local Rochester settlement company (also called a title company) to conduct your settlement. Before closing, we will coordinate with your title company and lender to get them the final accepted documents. Your title company will research the history of the title to make sure no one has placed a lien on the property (liens follow the property, not people). Your lender will then arrange for an appraiser to go to your home (this appraisal is a requirement for the loan approval).
Time to get home-owners insurance
You will now need to contact your insurance company to give them the final details on your new home and to start the policy coverage. You will need to provide your lender with proof of active insurance before your closing date. We can recommend a good local Rochester or surrounding area insurance company if you need one.
Final walk-through
A final walk-through is needed before we get to closing. You want to make sure the home is in the same condition as it was when you made your offer. Sometimes surprise issues arise (the roof suddenly sprung a leak; a hole was put in the wall by the sellers when moving) and need to be addressed before you complete your closing. In these cases, The Kelly Domaille Team will still have time to resolve these issues for you.
Closing/settlement time
The Kelly Domaille Team will attend the closing with you to make sure everything we have done to this point is pulled together correctly for a successful closing. We will answer any last-minute questions, clarify details and check all financial documents for errors.
You will need to bring the following to the closing:
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A cashier’s check made out to you in the amount of the down payment and closing costs. Your lender will estimate how much you will need and we will review these numbers with you prior to closing. (Make the check out to yourself just in case there is a glitch, that way you can easily put it straight back in your bank account. At closing, you will simply endorse the check to transfer it to the closing officer).
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Your driver’s license or other form of government issued photo identification.
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Proof of home-owners insurance
When the closing is completed, you will receive a packet with all the final documentation. Make sure to keep this information handy as you will need it for tax time. (But if you do misplace it, The Kelly Domaille Team can help as we keep copies of them).
Go to the next step: Move in
Return to the previous step: Inspections
