Legal Counsel During
Your Most Important Issues

Preparing for a closing on a new home

Preparing for a residential real estate closing is an exciting time for new homebuyers, marking the final step in the journey of purchasing a home. This process involves a series of important tasks and checks to better ensure that everything is in order before the keys are handed over.

For those who are navigating this exciting milestone for the first time, understanding what to expect and how to prepare can make the experience less stressful. Because while this is an exciting undertaking, it is also consequential and, therefore, can be quite stressful as well.

Reviewing paperwork and the property

If you’re about to complete the purchase of a new home, congratulations! Several days before your closing is scheduled, you should receive a closing disclosure form. This document will outline the final details of your mortgage loan, including the interest rate, monthly payments and all the costs associated with the closing. It’s crucial to review this document carefully, comparing it to your initial loan estimate to ensure that there are no unexpected charges or changes. If anything seems amiss, now is the time to raise questions with your lender.

You’ll also want to take care during your final walk-through of the property. This opportunity will serve as your last chance to inspect the home before it officially becomes yours. This typically occurs 24 hours before closing. Use this opportunity to ensure that the home is in the condition agreed upon in the contract, that all repairs have been completed satisfactorily and that the house is otherwise ready for you to move in.

Getting ready for the closing itself

You will need to bring a cashier’s check or arrange a wire transfer to cover the closing costs and down payment to your closing meeting. It’s essential to have this prepared ahead of time to avoid any delays.

You’ll also want to bring all necessary documents to the closing. Necessary documentation will likely include your identification, proof of homeowners insurance, contract documents, inspection reports and any other paperwork related to the loan or purchase.

Preparing for a residential real estate closing as a new homebuyer can be an intimidating process. However, by being proactive, you’ll better ensure that you’re ready to navigate pre-closing and closing as efficiently and effectively as possible.



FindLaw Network
ABA | American Bar Association
Rated By Super Lawyers Peter G. Aziz
New Jersey State Bar Association 1899