What to Bring to Closing: A Complete Checklist for Buyers & Sellers

The final step in the home-buying or home-selling process is the day on which the people involved in selling or buying a house make the transfer of ownership official. Knowing what to bring to closing can make it easy, hassle-free, and, hopefully, enjoyable whether you are the seller finalizing the deal or the buyer ready to take possession of your new home. There may be problems or delays if paperwork is required or cash is missing. Here is an extensive list that outlines all the items that buyers and sellers should bring to closing, along with crucial advice to guarantee a smooth process to help you stay on track.

Important Paperwork and Items for Buyers

Closing day is the day you, as the buyer, finally own the house. However, you need to provide the appropriate documentation and money so that the transaction goes smoothly. What you must have is as follows:

1. Identification issued by the government
   Before completing the records, lenders and title agencies require a legitimate government-issued picture ID to verify your identification. Among the acceptable ID formats are:

• A driver's license
• A passport
• An identification card issued by the state

Verify that the name on your ID matches the name on the contract of purchase and financing paperwork. Bring official documents, like a marriage certificate, if your name has recently changed.

2. Cashier's Check or Certified for Closing Costs
   Personal payments for down payments and closing expenses typically are not accepted by title companies. Bring a certified or cashier's check payable to the escrow or title business managing the closing if you have any outstanding balances. You should speak with your lender or closing agent beforehand to check the precise amount.

3. Homeowner's insurance documentation
   Your lender needs proof of homeowners insurance before you can complete your mortgage. To prove that coverage is in place as of the closing date, bring a copy of the policy or the insurance declaration page. Make sure your lender has the right information for payments if they are escrowing your insurance.

4. Loan Records
   Certain mortgage records or instructions may have been delivered by your lender. Bring any required loan documentation, including your loan estimate, commitment letter, or mortgage approval letter. This is your last chance to ask any questions you may have about the terms before signing the final agreement.

5. Final Disclosure
   A Closing Disclosure (CD) needs to be sent to you at least three days prior to closing. The interest rate, monthly payments, closing expenses, and final loan conditions are all detailed in this document. Bring a copy for reference and thoroughly go over it for any discrepancies.

6. Confirmation of Payment and Closing Costs
   Bring documentation of the wire transfer to prove that money has been paid to the escrow business if you are sending money by wire transfer instead of a cashier's check. To prevent wire fraud, confirm the recipient's information before sending money.

7. Individual Checkbook for Other Costs
   Unexpected costs might come up while closing. When you have a checkbook on hand, you may pay for little expenses that might not have been covered in your first closing cost estimate.

8. Name Affidavit, if Relevant
   At closing, you could be required to sign a Name Affidavit attesting to your identity if your name appears differently on multiple papers.
   Important Documents and Items for Sellers

To complete the deal, you, the seller, must provide a number of essential papers. You should bring the following to closing:

1. Identification Issued By The Government
   Before signing the closing papers, sellers must, like purchasers, present a legitimate picture ID to prove their identification.

2. Access Codes, Garage Openers, And House Keys
   The property must be entirely accessible to the new owner. Bring all necessary items to give to the buyer, such as mailbox keys, security system codes, garage door openers, and home keys.

3. Confirmation of Transfer and Final Utility Readings
   Make sure that utility accounts (like gas, water, and electricity) have been scheduled to be transferred to the buyer's name, and that final meter readings have been obtained prior to closing. Before transferring ownership, some towns demand documentation of final payments.

4. Property Deed (if relevant)
   Bring the original property deed to verify the formal transfer of ownership if you are the only owner. However, the title company usually takes care of the paperwork if there is a mortgage.

5. Purchase Agreement Final
   For reference, during the closing process, bring a copy of the signed purchase agreement. This ensures that everyone is aware of the terms that were agreed upon.

6. The Settlement or Closing Statement
   A statement outlining the final financial breakdown, including the purchase price, taxes, and other costs, will be provided by the closing agent or lawyer. Make sure all the details are just by thoroughly going over this.

7. Evidence of Agreements or Repairs
   Bring receipts or other proof attesting to the conclusion of any repairs or changes you provided to make as part of the purchase. This lessens the likelihood of arguments on closing day.

8. Tax Records (if relevant)
   Property tax receipts or any other pertinent tax documents related to the transaction can be required. In order to document the proceeds from real estate transactions, certain sellers must submit a 1099-S form.

9. A Power Of Attorney, If Any
   Bring the original Power of Attorney form that gives you authority to sign on someone else's behalf if you are selling the property on their behalf.

Additional Advice for a Smooth Closing

1. Get There Early
   To study documentation and ask any last-minute requests, offer plenty of time. Being early ensures that the closing process begins on the timetable and avoids needless stress.

2. Verify Fund Transfers Again
   To avoid fraud, make sure the escrow business has the correct information before sending money. A reliable source should always be contacted before transferring money.

3. Carefully Examine Documents
   Make sure all paperwork is correct by carefully reading them before signing. Examine loan conditions, interest rates, and repayment terms carefully.

4. Maintain an Emergency Contact
   Keep the contact details for your lender, lawyer, or real estate agent close to hand in case you have questions or run into unanticipated issues while closing.

5. After closing, celebrate!
   Celebrate after all the legal paperwork is signed and the keys are passed! After all the work, you deserve to enjoy the moment when you buy or sell a property, which is a major milestone.

Knowing what to bring to the closing will help avoid last-minute surprises and ensure a smooth transaction for both buyers and sellers.

If you have all the necessary paperwork, money, and keys ready, you can confidently complete your real estate transaction. Closing day has been prepared and made easy, whether you are moving into your new house or burying an old house memory.