Step 5: Getting Close to the Finish Line

While you’ve been preparing to move, your lender has been diligently working on your loan approval. As we near the close date, your mortgage lender should notify us that we are “Clear To Close.” This is great news and means your mortgage is approved.

Learn more about the importance of Clear to Close.

Now that we know your loan is approved and the specific amount you’ll be financing, it is time to prepare the balance of your down payment. You’ve provided an earnest money deposit, which will be applied to your final down payment, but you will need to wire the remainder of your down payment plus closing costs and fees a day or two before escrow closes. Click here for more information on the balance of your down payment.

After we’ve received the “Clear to Close” notification, Dawn will schedule the final walk through. This normally occurs about a day prior to the close of escrow and the seller’s REALTOR® may attend in the event any issues arise. Here is what to look for at the final walk through.

The day before closing, you will need to wire your down payment to the title company. These funds must arrive at the title company on the date specified so be sure to contact your bank to find out their cut off times for transferring funds. Read more about wiring your down payment.

You will also need to sign all of the necessary documentation at the title company before the home is officially yours. During this meeting, you will review and sign your mortgage loan paperwork as well as any other essential paperwork needed to finalize your home’s purchase. Here is what to expect at your sign-off appointment.

And, that’s it…almost! There are just a few more items to attend to, like getting the keys to your new home!