Closing on a Home Knoxville Tennessee
Congratulations to you! You’ve found your dream home. This is no easy feat with so many lovely choices on the Tennessee real estate market. Also, you made it through the lender underwriting process, and received the clear to close! So, what’s next? We know Tennessee home buyers can start to feel a bit overwhelmed as closing day approaches. That’s why we’ve compiled a few tips to help you prepare and set the pace for a smooth closing.
TIPS TO FOR A SMOOTH CLOSING
You want to lessen any surprises on closing day. You’re almost to the finish line, and you don’t want to delay the process any longer.
MAKE SURE TO TAKE CARE OF ALL CONTINGENCIES.
Most purchase agreements have contingencies set in place that home buyers must do before the sale is official. Including a home appraisal ensuring the value of the home is accurate, home inspection showing the house doesn’t have any issues and the ability to back out of the sale if your mortgage falls through.
FINAL MORTGAGE APPROVAL.
Before closing, your home loan must go through an underwriting process. Underwriters are like real estate detectives; their purpose is to make sure you have represented yourself and your finances. Also, that you haven’t made any false or inaccurate information on your loan application.
EXAMINE YOUR CLOSING DISCLOSURE.
If you’re securing a loan, one of the best ways to prepare is to review your closing disclosure. This official document outlines the exact amount of your mortgage payments, the loan’s terms, and closing costs. You’ll want to compare your closing disclosure to the loan estimate your lender gave you at the beginning. If you see any differences, ask your lender to explain them.
PERFORM A FINAL WALK-THROUGH.
Most sales contracts allow home buyers to do a walk-through of the home within 24 hours before closing. During this time, you want to make sure the prior homeowner has vacated. You’re also ensuring the condition of the home is what was agreed upon in the contract. If the home inspection revealed problems the home sellers decided to take care of, you’d want to make sure all the repairs were made.
BRING ALL THE REQUIRED DOCUMENTATION FOR CLOSING.
To avoid any delays, make sure you have the following before you head off to seal the deal:
• A copy of your contract with the seller
• Proof of homeowner’s insurance
• Your home inspection reports
• A government-issued photo ID
• Any paperwork the bank required to approve your loan
Crossland Title, Inc. is fully committed to providing quality products and services to our communities. With more than 36 years of experience in the real estate and title agency business. Owners Pam Rice and Beth Crox have built their reputations upon the virtues of personal service and integrity. They believe that reputation as an honest and reliable business is the recipe for success. They have a knowledge base and support. The staff of Crossland Title, Inc. is more than capable of guiding each client through the myriad of issues surrounding a real estate closing. Crossland Title Inc. seeks the opportunity to continually earn your business. Trust our service driven, customer sensitive approach to the title industry.