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You'll have to pay closing costs, your home's down payment, prepaid interest, property taxes and proof of homeowners insurance at closing. This money is known as your cash to close, and it's the total amount you'll need to bring to close on your mortgage loan.
Plan for the following: Cooperate with the home inspector and lender's appraiser. Contact your lender to start mortgage payoff process. Keep the house in good condition. Negotiate or repair anything the buyer's inspector finds. Notify your utility companies of a final service date. Schedule the closing for your new home.
Here are seven actions to take ? and guidance on when to take them ? to prepare for closing. Step 1: Schedule a home inspection. ... Step 2: Purchase homeowners insurance. ... Step 3: Meet with your lender. ... Step 4: Prepare your loan application documents. ... Step 5: Review the Closing Disclosure. ... Step 6: Schedule your final walkthrough.
What do sellers need to bring to closing? Keys, codes, and garage door openers to the house. ... Cashier's checks for closing costs and repair credits. ... Personal checkbook. ... Time, date, and location of the closing. ... Government-issued identification. ... Your writing hand (and maybe your lucky pen) ... Proof of repairs. ... 8 Final utility bills.
Home Buyers Pre-Closing Checklist Resolve Contingencies. ... Order A Home Inspection. ... Order An Appraisal. ... Order A Survey. ... Get Final Mortgage Approval & Lock In Your Rates. ... Check The Property Title. ... Purchase Homeowners Insurance. ... Conduct A Final Walk-Through Of The Home.