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You’ve signed your Purchase and Sale Agreement (P&S), and you’re one step closer to owning your new home!
Things may seem quiet for a little while, but there’s still plenty happening behind the scenes.
Here are 10 things to expect as you get ready for closing day.
1. Stay in Touch With Your Mortgage Lender
Your lender may need additional documents to finalize your mortgage. They’ll also typically arrange the property appraisal.
Tip: Respond to requests quickly to help keep things moving.
2. Know Your Mortgage Commitment Deadline
Your P&S may include a mortgage commitment deadline, which is an important date in your transaction.
If your lender hasn’t issued an acceptable commitment as the deadline approaches, contact your attorney right away.
At Sherman Law, we ask buyers to reach out at least two business days before their deadline if they don’t have a firm commitment.
3. Your Attorney Will Review the Title
While you’re working with your lender, your closing attorney will review the property’s title to check for potential issues, such as outstanding liens or missing mortgage discharges.
If something comes up, your attorney will help determine what needs to happen before closing.
4. Arrange Your Homeowners Insurance
Contact your insurance agent to arrange coverage for your new home. Your lender will typically require proof of insurance before closing.
5. Start Planning Your Move
Now’s a good time to schedule movers, set up utilities, and update your mailing address.
You can change your address online through the USPS.
6. Confirm Your Closing Details
Your closing team will coordinate the time and location of your closing as the date approaches.
Our advice: Avoid scheduling movers for early on closing day. Signing documents is only part of the process, and you may need to wait for the transaction to be completed before receiving the keys.
If you’re also selling a home around the same time, let your closing team know so they can help coordinate the funds.
7. Review Your Closing Disclosure
For most mortgage-financed purchases, your lender must ensure you receive your Closing Disclosure at least three business days before closing.
Review it promptly and complete any acknowledgment requested by your lender.
Your Sherman Law paralegal will also help coordinate your final closing figures and instructions.
8. Schedule Your Final Walkthrough
Arrange a final walkthrough with your real estate agent shortly before closing.
Check that the property is in the expected condition, agreed-upon repairs are complete, and items included in the sale are still there.
If something doesn’t look right, contact your agent and attorney.
9. Get Ready for Closing Day
At closing, you’ll sign your paperwork and provide any remaining funds needed to complete your purchase.
Your closing team will coordinate the loan funds, payments, and recording of the necessary documents with the Registry of Deeds.
10. Know What to Bring
Your closing team will let you know exactly what you’ll need, which may include:
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A valid government-issued photo ID and any additional requested identification
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Your closing funds, using an approved payment method
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Any additional documents requested by your lender or attorney
Important: Always verify wiring instructions by calling your closing team at a trusted phone number before sending money.
Ready for Closing? Sherman Law Can Help.
Buying a home involves a lot of moving parts, but you don’t have to navigate the process alone.
At Sherman Law, our attorneys and paralegals help Massachusetts homebuyers from the Purchase and Sale Agreement through closing.
With offices in Hingham, Boston, Plymouth, and Dartmouth, we’re here to help you take the next step toward homeownership.
Contact Sherman Law to learn more.
Still waiting to sign your Purchase and Sale Agreement? Read our guide to the steps between an accepted offer and signing the P&S.
