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August 1, 2023

What Are Some Tips to Prepare for Closing on A Home?

Congratulations! You’re about to reach one of the biggest milestones in your life – buying a new home! As a highly experienced home builder in the Savannah area, Ernest Homes has worked with many new homeowners like you. Helping them find the right community, floor plan, and everything they need all the way to and after closing day.

Closing on a house is the final stage in the home-buying process. It’s where you’ve crossed all of the T’s and dotted all of the I’s and are now ready to move in and enjoy your brand-new Ernest home! Before we get to those final steps, here are a few tips from us at Ernest Homes to help you prepare for your day of closing on a home.

Our Best Tips for New Homeowners Closing On A House

1. Complete Homeowner Orientation. In addition to introducing you to your new home, the orientation is an opportunity for you to confirm that the home meets the quality standards shown in our model homes and that we have completed all selections and changes. We note details that need attention on the orientation forms. Please read The Homeowners’ Manual Part 2: Caring for Your Home before orientation. We also kindly ask, if possible, to leave friends and children at home during this time.

2. Schedule A Closing Date. Whether it’s your first time closing on a house or you already own a home and are just upgrading, it’s important to consider the timeline to be prepared for the day of closing. We specify an exact delivery date when construction reaches a point at which weather and other factors are unlikely to affect the completion of your home. This typically occurs 45 days before closing. The closing process takes about an hour.

3. Know the Common House Closing Documents. Planning ahead is never a bad idea, especially for the day of closing on a house. Here are some common closing documents you’ll likely see and need to review and sign at the closing table.

  • General Warranty Deed
  • Title Commitment
  • 2-10 Homebuyers Warranty
  • Promissory Note
  • Deed of Trust

4. Plan Your Funds For Payment. Aside from signing and reviewing closing documents, you’ll typically need to come prepared with your down payment and closing costs on the day of closing. You’ll want to make sure you have the funds available in the preferred form of payment. Most mortgage lenders won’t accept a personal check or money order, so make sure you know what they prefer so you can prepare how you will transfer the funds in advance. Once you’ve confirmed the correct required amount, here are some common ways your title company may accept your payment.

  • Certified check
  • Cashier’s check
  • Wire transfer

5. Consider Your Mortgage Repayment Strategy. It can be unnerving to come to terms with the fact that you’re about to make one of the biggest purchases of your life. But with Ernest Homes, you’re never alone. We work with trusted lenders who will make sure you select the best financing option for your situation. Great advice for tackling your mortgage payment anxiety: First, remember you’re not just spending your savings, you’re investing it in real estate (a good investment that only appreciates over time). Second, paying just one extra month of your mortgage towards your principal each year can build equity faster. For example, if your mortgage is $1,500, just save an extra $125 each month and then pay that extra payment towards the principal only.

6. Arrive Early to Closing. Try to arrive at least 15 minutes before your closing day meeting and expect it to last less than an hour. There will be a few papers to sign and items you’ll need to bring.

Contact Ernest Homes Today!

Whether it’s your first home or your 10th, having a closing checklist handy and knowing what to expect on closing day is crucial for any new home purchase. No matter what, Ernest Homes takes your home-buying experience seriously. This list of tips is just one way we’ll make buying your new home go smoothly.

Still on the fence? Browse our communities and available homes throughout the Savannah area, then let us know if you have any questions! We look forward to assisting you.

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