Settlement
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.
301-637-0966
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 SEARCHCONTACT US TODAY
Featured Real Estate Listings
-
Commercial 841 SLIGO AVE,
SILVER SPRING, MD 20910Rare opportunity to buy and develop in the downtown Silver Spring area. This two story building is currently for sale or for lease. The property consists of a 13,650 SF office building situated on 25,500 SF lot. Currently zoned CR this property offers commercial and residential development opportunities.
VIEW LISTING -
Residential 9636 BEMAN WOODS WAY,
POTOMAC, MD 20854SPECTACULAR light filled PARDOE BUILT end unit town home with amazing views and elevator! This 4 level home features gourmet kitchen, butler's pantry, formal dining room, family room, large master suite & 4th floor guest suite/entertaining room complete with roof top deck overlooking manicured lawn. The spacious family room with sunken study opens to private patio and walkway.
VIEW LISTING -
Residential 8421 CRIMSON LEAF COURT,
POTOMAC, MD 20854Set on a stunning lot in the beautiful Avenel neighborhood, this three-story house is the perfect place to call home. Want to learn more about our featured listing in Potomac? Call 301-637-0966 to speak with an expert at Coakley Realty or take a virtual tour and see it for yourself!
VIEW LISTING