Buyer Step 12 - Approaching Closing Day
This is a very exciting time! Closing is fast approaching, and you will have been in touch with your lender. They will have explained that the “CD” will be sent out to you shortly. The CD stands for Certificate of Disclosure and it’s a complete summary of your loan. Once you receive this, you must sign that you received it. Usually the mortgage company sends it out via email. And you will sign for it via email. If you and your spouse are on the loan together, you must each sign for it. Click here for an idea off what the CD looks like. This CD lets us know when we can estimate closing, because buyers have a mandatory 3-day review period that they cannot waive. After this 3-day period closing can be scheduled.
As you approach your closing day there are things that you will need:
What title company are you closing with? We will send you an email with all the information for the title company. Click here to see the addresses of all the title companies in the area.
What is your appointment time? I will be calling you and setting up a closing time that works for both you and me. I will meet you at the title company for your closing appointment.
How much money (if any) do I need to bring to closing? I will be calling or emailing you and letting you know the exact amount you need to bring to closing. These funds can be in two forms:
A Cashier’s Check; MUST be DRAWN ON A LOCAL BANK. This cannot be a check that you bring from another state, must be local.
-OR-
Wire Transfer; but it’s important to know that new rules say that you must be present to wire transfer. So if you are here in Alaska and your bank is in Texas, you won’t be able to wire over the phone.
So, let’s talk about 10 days before closing and make sure we know where your funds for closing are at so we don’t run into a problem right before closing.
Utilities; Click here to see a list of utility companies for the local area. Most important, especially in winter, is the Gas and Electric. In the Valley, you must have your electrical meter number to sign up for electrical service. Usually I will have that filled in on the Utilities form, and will send it to you prior to closing.