The closing (also known as settlement) is usually the final official step for a home buyer or seller. It is often a day of both apprehension and excitement. It is important to know what to expect and what may lead to delays. Below is an overview of Amesbury MA home sale closings for transactions requiring a home loan.
Clearance to Close
A clear to close is granted by the lender when all loan conditions have been cleared. This may not be done until just before the expected transfer date. In some cases, a tentative date and time is identified, however, the clear to close must be received before an actual closing can take place. Mortgage officers and real estate professionals will monitor the progress of this critical step.
Beyond the clear to close, there are several other factors that affect the scheduling of a closing. This includes document receipt, release of funds, and registry of deeds hours. The settlement agent needs paperwork from the lender and requires a certain amount of time to compile the final figures. The funds must also be transferred to the settlement agent (unless other arrangements are made), so time zones can impact scheduling. After paperwork is signed, they must be submitted to the registry of deeds, which can have limited hours of operation. All of this, plus the schedules of the parties in the transaction, can play a role in scheduling.
Items Needed at Closing
To ensure a successful closing, all parties must bring specific items. The first is valid identification for all persons signing paperwork. Secondly, any funds due must be certified (bank check, money order, or similar form of payment). Finally, it is important to also bring a checkbook for any final adjustments to the closing figures. Other items may be required beyond the above, but these are the most typical.
Amesbury MA Home Sale Closings
Closings can be stressful as you prepare to move and must also complete the requirements of the closing itself. Keep the above items in mind to make Amesbury MA home sale closings a little less complicated. Your real estate broker will also keep you updated on critical steps and assist you through the process.