What to Expect on Closing Day

It’s finally here! Your offer has been accepted, the home appraisals have been completed, and you’re almost ready to get your keys. All that’s left is closing day.

The closing date is scheduled during the negotiations.

Be sure to allow plenty of time to complete the process. While some are able to close on a home relatively quickly during a lunch break, there are situations when complications may arise causing delays. You should also avoid scheduling the last day of the month. If delays happen, you may end up having to pay more because interest accumulates throughout the month. Also, avoid the end of the workday so you have wiggle room if issues arise.

During this process, the deed of the home will be signed over to the new owner. The seller will also receive a check or bank transfer in the amount of the home’s sale price.

If you worked with Cyprus, the advisor who helped you through the entire home buying process will be there to make sure everything runs as smoothly as possible.

WHO IS THERE?

• Buyer
• Seller
• Seller's Real Estate Agent
• Closing Agent
• Title Company
• Mortgage Lender
• Attorneys, if necessary

WHAT DO I NEED TO BRING AS THE BUYER?

• Government issued photo ID.
• Certified check to cover any closing costs for which you are responsible.
• Any paperwork or documents that you still need to provide.
• Copies of important documents such as contracts or inspections.

WHAT DO I NEED TO BRING AS THE SELLER?

• Government issued photo ID.
• Certified check to cover any closing costs for which you are responsible.
• House keys & garage door openers.

At Cyprus Credit Union, we're not just your mortgage lender, we're your mortgage partner. Our experienced home loan advisors will be there to help you every step of the way from your first sit down meeting all the way to closing day. If you'd like to schedule a free consultation with one of our advisors, call (801) 260-7600 ext. 5340, email mortgages@cypruscu.com, or click here to apply.