Your 6 Things To Do Before Closing on a New Home

While the average home buying process is on average 30 to 45 days, it is crucial that you stay on track and accomplish the necessary steps during that time. Once you finally locate the right home and complete your negotiations, here are 6 steps to guide you through to closing.

Closing Date

Select a closing date that coincides with the sale of or lease end of your current home. It is also ideal to choose the last day of the month as you will pay the least amount of interest at the closing table and the math will work out nicely for all related accounts. 

Organize Funds

Make sure all of your money for the closing is ready and accessible on hand. You will receive documentation of what will be owed typically along with wiring instructions for how to pay it. Personal checks are not accepted but are good things to bring with you to the closing for any small incidentals that may arise. 

Title Insurance

All mortgages need an insurance policy for the dwelling the mortgage is being taken out on. This protects the lender in case the seller either didn’t fully own the home or if someone had a lien on the property. 

Homeowners Insurance

This is something you can shop around for and even play around with coverage numbers. In some cases you can even find a better deal with a company that bundles your home and auto policies together. In many locations here in South Florida, you will also potentially need a flood policy as well. 

Review the HUD

Your lender will provide you with a good faith estimate of what will be needed to pay for closing costs earlier on in the process which is very helpful for planning your money. Before you go to the closing compare these numbers with the HUD statement and inquire with your lender if anything looks like it has changed substantially. 


Schedule your walk-through as the last thing you do right before the actual closing – either the morning of or night before. Things to check for include:

-No items left by sellers

-Any repairs that were promised are completed

-Test all electronics, doors and systems

-Check for any damage or missing items

Hopefully all will be as it should. In case it is not, you can either delay the closing or potentially hold a portion of the proceeds in escrow until the dispute is resolved.