How to Prepare For Closing Day!

By Michelle Moon
  • After you’ve successfully put in an offer for your home and the closing day is set, you are now at the final steps of your home buying journey! You’ll want to be prepared for the additional costs, and steps that will be required for a successful and smooth home purchase. Let us guide you with some information, tips, and more about what to expect on your big day!

Pre-Closing Day Checklist

To ensure a smooth process for your home transaction, you’ll still have a few steps to go through before you get your keys. Here are 6 steps to check off your list before closing day:

o  Review your contract

Complete a final walkthrough

o Talk with your lawyer

o Purchase home insurance

o Know how much cash is required at closing

o Secure cash required at closing



Cash Required At Closing

Understanding the costs that will be required at closing day is important to know even before you start your home search. Not only will you be prepared for what to expect, but this can help you with budgeting your costs. 

Some examples to include in your calculation:

o Down Payment 

Title Insurance

Legal Fees

Land Transfer Tax




Statement of Adjustments

Another important document is your statement of adjustments, which will display any credits to both the buyer or seller as well as the final amount payable by the buyer on closing day. You can expect the following to be listed in the statement:

o  Purchase Price

Your Deposit

Prepaid property taxes, utilities or fuel

Prepaid rents

Appraisal Fee

Land Survey Fee