Real estate closing day is the day you get the keys to your new home! Residential real estate closing transactions may vary from state to state but generally take between 30-45 days from the acceptance of the offer to the closing day.

There are several specific deadlines in between that need to be met on time as well as several different parties/companies (realtor, title company, insurance, lender, etc) taking part in this process. Not all lines of communication go directly through your realtor.

At The White Coat Wife we work with realtors who are experts and willing to check-in with clients through the process. Looking for a realtor in your city, let us ease your search and connect you!

For peace of mind, we created the check-list below to help you feel reassured as a buyer that your home will close on time.

REAL ESTATE CLOSING DAY

Additionally, there are specific steps for buyers. in order to meet deadlines for real estate closing day.

Earnest Money

The first steps is to make sure your earnest money is turned into the broker. Most realtors will have the check dropped off at the office or handed to them a day after the offer is accepted. If the buyer lives out of town the check can be mailed. Earnest money checks must be received before the fifth day. In some state a due diligence check is also require.

Furthermore, the buyer will be responsible for several steps to make your real estate closing day go smoothly. Contact and choose a home insurance company, lender, and title company or closing attorney.

INSURANCE

For a discount, most buyers choose to couple their car insurance with home insurance. We encourage you to shop around for best coverage and lowest rates for both. Personally, Erie is a favorite for The White Coat Wife.

Lender

It is good to shop around around before you write an offer. We highly encourage you to work with a local lender. Some smaller credit unions or local lenders offer better terms on physician loans. This may include allowing you to carry multiple physician loans or having a 90 day closing window before your contract start date. Because once your offer is accepted in most contracts limited buyers to a few day to choose a lender. It is also important to solidify a lender, so that, underwriting process can begin immediately.

Title Company/ Closing Attorney

Also, Most real estate offices have local title companies or closing attorney they recommend. However, you are free to choose your own preference. Nevertheless, if you feel comfortable with their recommendation there is often benefits to working one where a relationship is already established.

Since, many larger real estate offices will also have a closing agent that will correspond with the title company or closing attorney and you. This person will review closing documents and make sure credits/debits of the transaction and all documents are correct before sending them to the buyer(s).

Finally, as a buyer make sure you are double checking and reading over everything as well. If you have additional questions present them to the closing agent or your realtor. This team effort helps closing day go well. It will be the day you sign closing documents and get the keys to your new home!

Real Estate Closing Day Checklist