Three ways to avoid mistakes on closing day

Whether you’re buying or selling a home, closing day is the culmination of a lot of hard work by you, your lawyers, your real estate agents and many more. It should be a time to celebrate and look forward to a new future. That doesn’t mean that you should simply assume that nothing could go wrong. Here are just three ways to avoid closing day mistakes:

Be sure to bring ID

Whether you rushed out of the house that day without your wallet or just forgot to renew your driver’s license last week, there are many things that can go wrong with your ID. If either the buyer or the seller is unable to produce valid identification, the entire closing process will quickly grind to a halt.

Have the money in the appropriate form

By the time you sit down at the table, you’ll have hopefully gone over the terms of payment with your agents and lawyers. Know, however, that getting details right is essential in this transaction. If you’ve agreed to wire the money, don’t arrive at the table with a personal cheque.

Know what the closing costs are

Along with paying the fees for all those who have helped you, there will be additional fees for processing the large amounts of paperwork that go along with buying a house. For many people, buying a house is the biggest purchase of their lives. Be sure to consult with your lawyers and agents beforehand so you don’t end up making a mistake just before you’re done.