Attend Closing
It’s closing day!
Typically, the Seller selects the Title Company and pays for the Title Insurance, but the closing fee to perform the closing is typically paid half by the seller and half by the buyer. Many title companies have multiple locations, and you can opt for the most convenient one, usually the one closest to the property being purchased.
Before closing, it is advisable to confirm the details with your movers one last time. Ensure that they have the appropriate crew size and truck to efficiently execute the move. Although most closings take 1-2 hours, some may take longer. We do not recommend moving on the same day as the closing. However, if you have to, please ensure that you allocate enough time to complete the closing before meeting your movers.
A few important reminders for closing:
Bring two government-issued photo IDs with you (ideally a driver’s license and a passport)
Bring your checkbook (just in case the final numbers are slightly off)
Bring copies of your earnest money receipts and wire transfer receipt for your down payment.
Closing takes approximately one hour; however, it can be as short as 30 minutes or up to two hours. At closing, in addition to you, there will usually be the following people present:
Your Buyer’s Agent (your Appreciate Realty CO agent you have been working with thus far).
The title officer, who is a notary. The title officer makes sure everything is signed properly, sends all of the signed documents to the underwriter for one last review and issues any refund checks at the end of closing.
The mortgage lender may be present but is not always and is not required to be.
The Sellers are usually not present at your closing, as they typically schedule a separate time to sign the closing documents.
During closing, the Title officer will make sure you understand how and when to pay the mortgage and how the real estate taxes get paid in Colorado.
You’ll receive a signed copy of all closing documents as hard copies or electronic copies via email, including your Settlement Statement and the Closing Disclosure. Hold on to this! You’ll need it next year when you prepare your taxes. Click here for an explanation of Closing Disclosure
Last, but not least, you’ll get your keys and can now officially move in! Congratulations, new Colorado homeowner!
Questions for top real estate agents in Boulder or Denver? Reach out to the Appreciate Realty CO agent you are working with directly or Call/Text us at (303) 956-4948 or email us at hello@appreciaterealtyco.com