Step 13 - Set the Closing Day on Your Calendar

Set the Closing Day on Your Calendar

From the time you have an executed contract, it's time to start planning for the big day - your closing! Here's what you need to know about the process:

First off, it's important to keep in mind that the closing date specified in your contract could potentially change. Various factors could cause a delay, especially if the closing time frame is tight. For now, let's plan on the closing date being the final date, but just be aware that there could be changes. No matter what, your lender must confirm and send out your Closing Disclosure (CD) no later than 3 business days before the closing date.

Typically, the closing takes place at one of these locations: your attorney’s office (if you retain one), the title company’s office, or my office in Moorestown. The actual closing will last around an hour. However, if any issues pop up, the closing time frame extends to around 3 hours. So, it's best to plan to take the whole day off from work or plan to return to pick up the house keys. While we can't give an exact time for closing just yet, we can request either morning or afternoon. If you have a preference, please let us know!

The exact location and start time won't be scheduled until your mortgage officer gives us the Clear to Close (CTC) signal, which usually happens 3 days to one week before your closing date.

It's ideal if you can attend the closing in person, but if that's not possible, let our team, your mortgage lender, and your real estate attorney know as soon as possible. Your attorney can then create a Power of Attorney (POA) for you to skip the closing. This process needs to be done at least two weeks in advance, so it's important to get the ball rolling early.

The day before closing, you'll need to wire transfer your down payment and closing costs to the title company. Be sure to only follow instructions from our email address, your attorney's email address, or your mortgage lender's email address to avoid any potential scams. Many wire scams are going on today so please make sure you contact the title company via phone to reconfirm the wiring instructions.

If you're planning to move into your new home on the day of closing, aim to schedule the move for at least 1 – 2 hours after closing ends, if possible. Legally, you can't move in until the bank funds the loan and transfers the funds to the seller at the end of closing.

And finally, at the very end of closing, you'll receive the keys to your new home! It's an exciting moment, and we can't wait for you to experience it.

Let me know if you have any questions or need further assistance!