How Do I Prepare For Closing?

• A day or two before closing, review your final closing statement or HUD-1 Statement, whichever is used in your area.
  
  
• Go over all the calculations and be certain that you are given credit for all your deposits and any credits due to you from the seller or for other items agreed upon between buyer and seller.
  
  
• Go over all the lender and title and escrow fees to be sure they are what you had been told and that you agree to them.
  
  
• Check the calculations on the closing statement - errors do occur!

Review the Documents

• Review the preliminary report or the guarantee of title insurance to verify the exact legal description of the property and any liens, encumbrances or other items which may have been discovered on the property. Be sure that all items are removed that you did not agree to.
  
  
• Verify that the title or escrow agent has your correct vesting or the way you want to take title to the property; to correct a vesting on a deed later is a time-consuming process which can be avoided if care is taken when escrow is closing.

Re-Inspect the Property

• Reinspect the property once again just prior to closing. This is important so that you don't arrive at your new home and find unexpected surprises.
  
  
• Is everything the way you expect it to be?
  
  
• Have all the necessary repairs and other corrective work been done that were promised to you?

Check and Double-Check

• It is most important to remember that before closing you want to be certain that all the conditions of the purchase contract have been met.
  
  
• You want to be sure that all directions given to the closing agent have been performed.
  
  
• Before signing your name to any closing documents, check and double check that everything is correct: interest rate, fees charged, condition of the property, etc.