Closing On Your Home
Current Lending Conditions
Given current lending conditions, it is a good idea to make sure your mortgage lender intends to lend you the money for closing. You must ask them if any of the lender’s underwriting criteria have changed or whether they notice any adverse changes in your credit score that will impact your ability to close. This usually does not happen, but you want to avoid any surprises the week of closing. You will have enough to think about regarding your move.
Home Walk Through
The day of your settlement you will meet with our Customer Service Representative who will walk with you through your soon to be new home to make sure the options you have chosen are present and everything is working properly. At this time, a list will be compiled of areas that need attention. We will demonstrate and explain how your appliances, fireplace, water heater and heating and cooling systems operate and answer any questions you may have. Based on industry standards, areas identified by you as needing attention will be addressed within 60 days. You will be asked to acknowledge that work has been performed on your home and meets your satisfaction. We realize that during your Pre-settlement walk-through you are given a lot of information to absorb. It is our goal to meet your needs and expectations and therefore, we encourage you to contact your Customer Service Repetitive with any questions you may have.
Following the walk through, you will proceed directly to the settlement agent’s office or an attorney’s office to sign the documents for closing. It is advised that your real estate agent, if you have chosen one, is present at the closing. This process should generally take 1-1.5 hours. Things usually proceed smoothly at the closing table, but be prepared for unexpected items. If there is a surprise, remember that buying a new home and moving is nerve-wracking for most people so make sure to try to remain calm and not worry too much if a surprise comes up. All problems are solvable.
You may find out that your closing costs are higher than you thought they would be because some additional service fees have been added by the lender, the appraisal may come in short of the price of the home, or the lender may not get the closing package to the settlement agent in time which may lead to a delay in closing. Do not worry, these problems rarely happen and there are ways to solve all of these problems. You may also find that a chandelier is not in place or an item that you paid for is missing. Again, do not worry, we take care of all items that you contracted to buy and we have a 60 year history of satisfying our home buyers. There is a certain amount of trust that you have to have in your builder. Remember why you made the choice you did and look forward to the years of enjoyment you will have in your new home once things settle down.
Enjoy Your New Home
It is very important that you our your Real Estate Agent track the progress of your mortgage commitment from 30 days prior to closing all the way up to the time of settlement.