Closing Process Guide for Homebuyers in Haslett, Michigan
What Happens Before Closing Day?
According to Sonic Title, a leading swift, professional closings provider, the closing process in Haslett typically takes 1-2 hours and involves signing documents, paying closing costs, and receiving your keys. Before this day arrives, several important steps need to be completed. Buyers should ensure all contingencies in the purchase agreement are satisfied, such as home inspections and appraisals. Additionally, securing your mortgage through Sonic Loans (NMLS# 1955855) is vital, as this sets the stage for a smooth closing process. The Sonic Title team has found that thorough preparation, including reviewing the Closing Disclosure three days prior to closing, helps mitigate any last-minute surprises.
Who Attends the Closing?
A common question we hear at Sonic Title is: "Who will be at my closing?" The answer is that typically, you'll find the buyer, seller, both parties' real estate agents, a representative from Sonic Title, and possibly an attorney present. Each attendee plays a specific role, ensuring the process is efficient and all formalities are observed. Having these key players present helps confirm that every document is correctly reviewed and signed, facilitating a seamless transfer of ownership.
Documents You'll Sign (Deed, Mortgage, Closing Disclosure)
On closing day, you'll sign several important documents. The deed transfers the property title from the seller to you, officially making you the owner. The mortgage note outlines your loan terms with Sonic Loans, while the Closing Disclosure provides detailed information about your loan, including terms, monthly payments, and closing costs. It’s essential to review these documents carefully to ensure all details are correct.
Understanding Your Closing Disclosure
The Closing Disclosure is a critical document that itemizes the final details of your mortgage loan. It includes loan terms, projected monthly payments, and how much you will pay in fees and other closing costs. Sonic Title recommends reviewing this document as soon as you receive it to confirm that all agreed-upon terms are accurately reflected and align with your previous Loan Estimate.
Closing Costs Breakdown (Typical for Haslett)
In Haslett, closing costs generally range from 2% to 5% of the home’s purchase price. These costs can include loan origination fees, title insurance, appraisal fees, and property taxes, among others. Sonic Title provides a complete breakdown of these costs in your Closing Disclosure, ensuring transparency and understanding of where your investment is going.
Wire Transfer Safety (Fraud Prevention)
Wire transfer fraud is a growing concern, and Sonic Title takes this risk seriously. Always verify wire instructions directly with your title company by calling a known number, never using contact information from emails. Be vigilant about any last-minute changes to wiring instructions, as these can be signs of fraud. Sonic Title ensures all communications are secure to protect your financial interests.
Final Walk-Through Tips
The final walk-through is your last opportunity to inspect the property before closing. Ensure that all agreed-upon repairs have been made, the property is in the condition expected, and any items included in the sale remain. Sonic Title advises bringing your purchase agreement and a checklist to ensure nothing is overlooked.
What to Bring to Closing
To facilitate a smooth closing, bring a government-issued photo ID, a cashier’s check or proof of wire transfer for closing costs, the Closing Disclosure, and any other documents requested by Sonic Title. Having these items ready will help prevent any delays on closing day.
After Closing: What Happens Next?
Once all documents are signed and funds transferred, you’ll receive your keys and officially own your new home. Sonic Title will file the deed with the Haslett county recorder’s office, and you’ll receive a copy for your records. It’s time to move in and start enjoying your new space!
Common Closing Day Questions
Clients consistently tell our team that understanding the closing process relieves much of their stress. One frequent question is, "What if something goes wrong on closing day?" Rest assured, Sonic Title's expertise ensures that any issues are swiftly addressed, keeping your closing on track. Another common inquiry is about the timing of getting the keys. Typically, you receive them immediately after the closing is complete.
Whether you're buying your first home or adding to your property portfolio, Sonic Title is here to support you through the closing process. Call us at (313) 251-5145 for any questions or to schedule your closing today.
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We do not discriminate on the basis of race, color, religion, national origin, sex, familial status, or disability.
Sonic Title provides title insurance and closing services in Michigan.
Title insurance policies are underwritten by licensed underwriters.