Buying a Home in Minneapolis MN: Closing Day
If you have come this far in the home buying process, then this means that it is almost time for a congratulations, but not yet. Do not forget to tie up these loose ends when buying a home in Minneapolis MN:
Final Walk-Through Inspection.
More of a formality than anything else, the final inspection takes place a day before, or the day of the closing. You will visit the property to verify that all is in working order, everything is the same as when you last viewed the property, that there are no extra items left behind, and that everything included in your purchase is still at the property.
Home Services and Utilities.
We will provide a list of useful numbers for the activation of home services and utilities after the closing occurs.
Be Prepared.
At Molina Realtors, we are ready to assist you should an unforeseen glitch pop up, even at this last stage of buying a home in Minneapolis MN. Something at the property breaks down, or some other minor detail – no need to worry. We have encountered these problems before so we know how to handle them efficiently and in a stress-free manor.
Buying a Home in Minneapolis MN: Closing.
The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. You and the seller(s) will sign this statement, as well as the closing agent, certifying its accuracy. If you are obtaining financing, you will have to sign all pertinent documentation required by the lending institution. If you are unable to attend the scheduled closing, arrangements can be made depending on the circumstances and the notice that we receive. If you are bringing funds to the transaction, you can elect to either have the funds wired electronically into the closing agent’s escrow account, or bring a certified bank check to the closing in the amount specified on the settlement statement. The seller should arrange to have all property keys and any other important information for you at the closing so that you may receive these items at this time.
Buying a Home in Minneapolis MN | Closing Day FAQ
What happens during the final walk-through inspection?
The final walk-through is typically scheduled the day before or the day of closing. It allows you to ensure that everything is in working order, the property is in the agreed-upon condition, and any included items are still present.
What should I do if I find an issue during the final walk-through?
If you discover a problem, contact us immediately. We have experience handling last-minute issues and will work to resolve them efficiently to ensure a smooth closing.
How do I set up utilities and home services for my new home?
We will provide you with a list of important contact numbers to help you activate home services and utilities after closing. It’s best to arrange this in advance to avoid any disruptions.
What documents will I need to sign at closing?
You will sign a settlement statement that details the financial transactions of the home purchase. If you are financing your home, you will also need to sign all necessary loan documents required by your lender.
What if I cannot attend the closing in person?
If you are unable to attend, alternative arrangements can be made depending on the circumstances and how much notice we receive. Contact us as soon as possible to discuss your options.
How do I submit my closing funds?
You can either wire your funds electronically to the closing agent’s escrow account or bring a certified bank check in the exact amount specified on the settlement statement.
When do I receive the keys to my new home?
The seller should provide all keys, garage openers, and any necessary property information at the closing so you can receive them at that time.
What happens if there’s an unexpected issue at closing?
We are prepared to assist you if any last-minute issues arise, such as a broken appliance or a missing document. Our team is experienced in handling such situations smoothly.