Getting close to the finish line on your new construction home can feel immensely exciting after months of dreaming, planning, designing, and patiently waiting on your home to finally be yours. With that said, it's important to plan in advance for your closing day so it goes without a hitch. The entire closing process can take up to four months, so while "closing" looks like the last item on your personal punch list, it's important to take action early.
If you're building with Buffington Homes, we'll be moving through our construction milestones as quickly and smoothly as possible. While that's happening, there are specific pre-closing and closing items you can be working through. To help you along, we've compiled a timeline that covers the basics so you can go into closing feeling as confident as ever!
4 Months Out
There's actually not a lot to do at this point. Just keep in mind a credit report will be pulled one day before closing, and that report will go back several months. So, hold off making any large purchases or any new lines of credit that could potentially impact your credit score.
3 Months Out
Now is the time to start shopping for your lender and prepare updated documents. We suggest waiting to actually lock in your lender until your home has brick!
60 Days Out
Go ahead and secure your lender, lock in your rate, and order an appraisal. Once the lender has been selected, please let the title company know who the lender is that you are using. It's also important to communicate the estimated closing date with your lender and send them any addendums, and contracts needed for a seamless experience.
30 Days Out
Your lender should be secured by this point. There are a lot of moving pieces at this stage, so keep in mind your closing date could fluctuate. Your sales agent will communicate with you should anything need to be adjusted. Be sure you have an alternate plan of where to stay if something does get moved at the last minute.
15 Days Out
This is a good time to touch base with your lender. Stay in contact and be quick to respond with anything they need so they're ready to close on time. Also, contact your insurance company to set up a homeowner's policy to be in effect the day of closing.
1 Week Out
It's almost time to close on your new home! You should receive your closing documents a few days before your meeting. Be sure to review them so you understand what you're signing. Check that there are no errors in spelling, numbers, and names.
You'll also need to decide how much you're bringing to the closing table. Double-check the numbers and request the certified funds needed. Will it be a wire? Are you bringing a cashier's check? This is the time to iron out the details. Lastly, confirm the time and location of your closing agent's office.
Bring all of the necessary paperwork with you, including a photo ID, home insurance certificate, and cashier's or certified check to pay for your closing costs. Closing can take a few hours, so come prepared to sign a lot of papers, and officially seal the deal on your beautiful new Buffington home.
Congratulations! Building a new home can generate a lot of feelings from anxious to elated. At Buffington, we want you to enjoy the journey as much as possible. Keep this list handy so you know exactly what to do in order to properly close the start living a life you'll love!
Are you a homeowner and have questions about this process? Feel free to contact your sales agent. They're available to guide you every step of the way!