CLOSING THE DEAL

THE FINAL STEPS TO HOMEOWNERSHIP

Once your offer has been accepted, several important steps must be completed before the home becomes yours. I will help you track the deadlines in your purchase agreement, communicate with the professionals involved, and prepare for closing.

COMPLETE YOUR INSPECTIONS

Schedule permitted inspections within the time allowed by your purchase agreement. Review the findings carefully and discuss any questions with qualified inspectors or contractors.

Depending on your agreement and the inspection results, you may have options to proceed, request repairs or another resolution, renegotiate certain terms, or terminate the transaction. Your available options depend on the contract.

KEEP YOUR FINANCING ON TRACK

Respond promptly when your lender requests updated financial documents or additional information. Avoid opening new credit accounts, financing major purchases, changing jobs, or moving large sums of money without first speaking with your loan officer.

Your lender will continue verifying your financial information and completing the underwriting process before issuing final loan approval.

APPRAISAL

If you are financing the purchase, your lender will generally order an appraisal to help evaluate the property’s value. An appraisal is performed for the lender and is different from a home inspection.

TITLE WORK

The title company will research the property’s ownership history and identify liens, claims, restrictions, or other matters affecting the title. It will also coordinate many of the documents and funds required for closing.

Indiana buyers may choose their title insurance provider, subject to applicable lender requirements. Ask questions about the difference between the lender’s title insurance policy and an owner’s title insurance policy.

HOMEOWNER’S INSURANCE

Your lender will generally require proof of homeowner’s insurance before closing. Begin comparing coverage and costs early enough to avoid delaying the transaction.

REVIEW YOUR CLOSING DISCLOSURE

For most mortgage loans, your lender must provide a Closing Disclosure at least three business days before closing. This document shows your final loan terms, projected payments, closing costs, and the amount you are expected to bring to closing.

Compare it with your most recent Loan Estimate. Contact your lender or title company promptly if something appears incorrect or you do not understand a charge.

COMPLETE THE FINAL WALKTHROUGH

Shortly before closing, we will conduct a final walkthrough. This is an opportunity to confirm that the property is in the expected condition, agreed-upon repairs have been addressed, and included items remain at the home.

The final walkthrough is not a new inspection. If we find a concern, we will discuss it immediately and determine the appropriate next step.

PROTECT YOUR CLOSING FUNDS

Wire fraud is a serious risk in real estate transactions. Never rely solely on wiring instructions received by email.

Before sending money, call the title company using a trusted telephone number and personally verify the instructions. Be suspicious of unexpected changes, urgent requests, or messages asking you to send funds to a different account.

WHAT HAPPENS AT CLOSING

At closing, you will review and sign the documents needed to complete the purchase and, when applicable, your mortgage loan. The title company will explain the documents it presents and account for the funds involved in the transaction.

Bring the identification and other items requested by your lender or title company. Ask questions about anything you do not understand before signing.

RECEIVING THE KEYS

The timing of possession is controlled by your purchase agreement. You may receive the keys at closing, after the transaction has funded, or at another time specified in the agreement.

HOW I WILL HELP

I will help coordinate the final walkthrough, monitor important transaction deadlines, communicate with your lender and title company, and remain available through closing and possession.

My goal is to help you reach the closing table informed, prepared, and confident about your new home.

Contact Steve Tucker, REALTOR® with United Real Estate Indianapolis, at (317) 345-7448.