How to minimize issues at the closing

Closing on a new house is exciting. Whether it is your first time, or you are a seasoned homeowner, it is a good idea to brush up on the closing details.

There are some common issues that may crop up in the few days leading up to the final signing, and preparing helps to minimize potential problems and results in a smooth closing.

Clear the title

According to, although it is rare, there is a slight chance that someone has a lien on the property or will claim ownership of the house, so it is imperative to do a title search. A title company can do this prior to the closing date so there are no surprises.

Review the HUD-1 settlement statement

At least three days before the closing, you will receive the closing disclosure form. This outlines the terms of the loan, so review it before you sign the papers.

Conduct a final walkthrough

The day before the closing, walk through and inspect the house. Make sure the owner conducted all repairs or any other contingencies outlined in the sales agreement.

Bring all pertinent items to the closing

The Consumer Financial Protection Bureau lists the items you need to bring to the closing. Beforehand, check to see if you need to send money electronically or bring a cashier’s check for the money required at the closing. It is also a good idea to bring a checkbook in the event there are changes. Bring your settlement statement to compare to the final paperwork. You will also need a form of identification.

Ask questions along the way

A house is a big purchase, and you want to make sure you understand everything. If you have questions prior to, or at, the closing, speak up. If there is anything in the paperwork that does not make sense or match up with your documents, do not sign anything until things are clear.



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