It’s been a hot market, which means it takes longer for buyers to find a home. If you were lucky enough to win a bidding war, then you’re probably in the middle of the process and awaiting the big day,… the closing. As that day approaches, there are a few things that you should know to ensure a smooth closing. Here are a few helpful MA home buyer closing tips to consider.
Have Proper Identification
Although you may have met or even know the closing attorney well, they are required to verify your identification at closing. This means that you will need some form of official government ID such as a driver’s license or passport. Be sure that everyone required to sign documents at closing have proper identification. The closing attorney will likely make a copy of whatever ID you choose to bring.
Bring Appropriate Form of Payment
Certified funds is required at closing for any money due (for your down payment and closing costs). Closing attorneys will often request a bank check, money order, or wired funds. Check with the attorney ahead of time to verify who the check should be made out to and in what amount. Some attorneys prefer that the check be made out to their company whereas others allow you to make the check out to yourself and then sign it over to them.If you are wiring funds, the process must be initiated in advance for the funds to clear by closing time. In case there are any last minute corrections or adjustments, it’s also a good idea to bring your personal checkbook to closing.
Plan your travel to the closing appropriately based on the time of day and traffic patterns. For afternoon closings, arriving promptly is even more important. Your closing attorney will have limited time to get paperwork signed and recorded at the registry of deeds before they close. If the sale does not get on-record that day, this could delay receipt of keys! For example, if you have a Friday afternoon closing and are planning to move that weekend, failing to go on record that day could mean that you don’t receive keys to your new home until the following Monday.
Other MA Home Buyer Closing Tips
MA real estate closings are a team effort. Your buyer’s agent, mortgage loan officer, and buyer’s attorney will communicate with you and with each other to ensure that everything is in place for your closing. Be sure to ask questions about anything that you are unsure of and keep the above tips in mind. As you endeavor to buy your next Massachusetts home, we wish you the best of luck with an easy and smooth closing!