Home Closing Questions Answered
Settlement (or closing) is the day where you sign on the dotted line and get the keys to your new home. This may be one of the most important and memorable day as a new home buyer.
At Coakley Realty, we have helped hundreds of people in the Washington, DC metro area close on residential and commercial properties, and we are experts when it comes to handling every detail.
Home settlements are a big deal! If you have questions that need answered, contact the experts at Coakley Realty. Simply fill out the form to the right or give us a call.
What Happens on Settlement Day?
Your settlement will occur at a prearranged location and date—they are often held at the title company’s office. During closing, you will sign all of the loan documents; make sure that each document is explained to your satisfaction so that you thoroughly understand each item that you are signing.
You will be required to present proof of homeowners insurance and any necessary inspections, as well as a certified or cashier’s check to cover the down payment, closing costs, and other settlement costs. Your lender should help you determine the complete cost of closing by filling out a HUD-1 Settlement Statement. This is a document that will cover the final credits and charges for both you and the seller, based on the terms of the contract. You will receive a copy of the HUD-1 at least one day before settlement—talk to your lender about getting it earlier, if necessary.
Once all the papers are signed and the payment has been made by your lender, all that is left is to get the keys to your new home and move in.
Who Will Be Present on Settlement Day?
On settlement day, who attends can vary, but it generally includes:
- The real estate agent for both parties
- The real estate attorney for both parties (if applicable)
- A lender representative
- The closing agent
- A notary public
Learn More About the Settlement Process
If you want to know more about the home settlement process, contact the experts at Coakley Realty. We can guide you through every step of the home buying process in the DC metro area, including closing and settlement.
Contact us online or by phone at 301-637-0966 to schedule an appointment.
FIND THE PROPERTY YOU NEED.PROPERTY SEARCH
CONTACT US TODAY
Featured Real Estate Listings
- Residential 9476 Newbridge Dr,
Potomac, MD 20854
ENTERTAINER'S DELIGHT! Stunning 2 acre lot located in sought after Falconhurst. Spectacular, private yard features newly renovated pool, pool house w/ FB, tennis courts & beautiful sun filled patio. Enjoy the spacious kitchen, formal living & dining rooms,1st floor office, fin bsmt, storage & 3 car garage. Two story family room features over sized windows & offers scenic views of the backyard.VIEW LISTING
- Residential 23400 Woodfield Rd,
Gaithersburg, MD 20882
Mitchell & Best Home on gorgeous 2+ acre lot in Watkins Preserve - a subdision offering 5 additional lots! 5,700 SF (3,934 fin above grade) incl. 4 bdrms, 3.5 baths, 2 car gar, & a full W/O bsmt. 1st fl features office, formal liv& dining rms, gourmet kitchen w/ cntr island, brkfast area & lg family rm w/ FP. Enjoy the gorgeous sunset views from the spacious deck!VIEW LISTING
- Lot 11013 Riverwood Dr,
Rockville, MD 20854
GORGEOUS 2+ acre lot in heart of Potomac. At the end of prestigious Riverwood Drive, this lot is on a cul de sac. Public water & sewer & gas available. Enjoy all that Potomac has to offer: Potomac Village features shops, restaurants, supermarkets, Starbucks and more! Outdoor enthusiasts will love Swains Lock & Great Falls Park. Country Clubs, equestrian facilities,& sought after schools nearby.VIEW LISTING