Closing

Once your loan is approved and closing is just a few days away, there are several important steps to finalize. You will need to prepare the funds for your down payment, which should be transferred by wire or bank check according to the arrangement with your lender. Additionally, it is essential to have your homeowner’s insurance in place, as this is a requirement for closing. Prior to the closing date, you should schedule a final walkthrough of the property to ensure there are no surprises or issues. Completing these tasks will help ensure a smooth and successful closing process.

Closing is the final step in transferring ownership of a property from the seller to the buyer. This process involves signing a substantial amount of paperwork, including the mortgage documents, various disclosures, and the deed. The purpose of this documentation is to officially record your ownership of the property. During closing, you will sign multiple documents related to your contract with the bank and the deed to ensure that both the deed and mortgage, if applicable, are properly recorded. This procedure typically takes about an hour to an hour and a half, and your presence at the attorney’s office is generally required.

  • Do: ensure you bring a valid form of identification and your checkbook to the closing appointment for any necessary payments, such as closing costs or down payments.

  • Do: attend the closing appointment in person. Avoid scheduling international travel or other commitments that might prevent your attendance, as this could delay the closing process. Being present allows you to address any issues promptly and ensures a smooth closing experience.

  • Reminder: The final amount for the deposit will be provided the day before closing.

Arrange for utility services to be transferred into your name to ensure uninterrupted service after you move in. Here is some essential information regarding utilities:

Water: Water service should have been arranged as part of the purchase process, and no further action is required on your part.

Electric and Gas: Use the following link to locate your local electric and gas providers: Find My Electric, Gas, and Water Company. You will need to contact these companies to set up accounts in your name.

Garbage Collection: Contact your local municipality to determine the garbage collection schedule for your address. Some towns offer online lookup services for this purpose. Refer to this link for more details: Massachusetts City/Town Recycling Links.

Communications (cable/internet): Schedule appointments for cable and internet installation after closing. Please note: avoid allowing the cable technician to drill holes; have your electrician handle this task instead.

We are here to guide you through the home-buying process with a comprehensive toolbox designed to support your decision-making. This toolbox encompasses the expertise of various professionals, including lenders, attorneys, inspectors, and engineers, all working together to facilitate a successful purchase. Our goal is to help you determine the optimal property and timing for your investment.

In a market filled with fluctuating numbers and information about properties, it’s easy to become overwhelmed. To provide clarity, we rely on actual data and sophisticated tools such as market profiles, absorption rates, hedonic pricing, and investment models. These metrics are used to help you make well-informed decisions and avoid costly mistakes. Our approach ensures that you have the necessary information to make the best possible choice for your home purchase.

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