Tooele Real Estate Closings
Tooele UT Home Purchase Closings
The closing (also referred to as settlement) is typically the last step in the property purchase or sale process. It is often a day of both apprehension and excitement. It is helpful to understand what to expect and what can cause delays. This blog contains an introduction to Tooele UT home purchase closings for purchases requiring a mortgage.
Approval to Close
A clear to close is issued by the lender when all conditions have been met. This may not be issued until just prior to the planned closing date. Sometimes a tentative date and time is determined, however, the clear to close must be issued before an actual closing can occur. Loan officers and real estate agents will monitor the progress of this critical step.
Beyond the clear to close, there are several other things that affect the timing of a closing. The most common are paperwork delivery, issuance of funds, and recording hours. The closing agent needs paperwork from the lender and must have sufficient time to complete the final figures. The funds must also be sent to the closing agent (unless other arrangements are made), so time zones can affect scheduling. After paperwork is signed, it must be filed at the registry of deeds, which usually have specific hours of operation. All of this, plus the schedules of the different people in the transaction, will impact the time of a closing.
What to Bring to Closing
To avoid delays, buyers and sellers must bring certain items. The first is legal identification for all persons who must sign paperwork. Secondly, any money owed must be certified (not personal checks). Finally, it is a good idea to also bring a personal checkbook for any final changes to the closing figures. Other items may be required beyond this, but these are the most common.
Tooele UT Home Purchase Closings
Settlement can be stressful as you prepare to move and must also address items related to the closing itself. Keep the above items in mind to make Tooele UT home purchase closings a little less complicated. Your real estate professional will also keep you updated on critical milestones and assist you through the process.
Have more questions? Call Berna or me @ 435-840-5029. We love to talk about Tooele Real Estate closings.
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