The Closing Process for Homebuyers in Shelby, Michigan
What Happens Before Closing Day?
According to Sonic Title experts in Metro Detroit, the days leading up to your closing are crucial for a smooth transaction. Before closing, your lender will finalize your mortgage, and a title search will ensure there are no outstanding claims on the property. This is also the time to schedule a final walk-through of the home to confirm that any agreed-upon repairs have been completed and that the property is in the condition promised.
A question we frequently hear at Sonic Title is: "What should I do if I find issues during the final walk-through?" The answer is to promptly report any discrepancies to your real estate agent and attorney if needed, so they can address these with the seller before closing.
Who Attends the Closing?
The closing meeting involves several key participants. Typically, you, the buyer, will be present along with your real estate agent, the seller, the seller’s agent, and a closing agent from Sonic Title. In some cases, your lender may also attend. Each party plays a specific role in ensuring a successful transaction.
Clients consistently tell our team that having all necessary parties present makes the process more transparent and efficient.
Documents You'll Sign
During the closing, you'll sign several important documents. These include the deed, which transfers ownership of the property to you; the mortgage, which outlines the terms of your loan; and the closing disclosure, which details the final costs of your transaction.
It's important to review these documents carefully and ask any questions you might have. Sonic Title reports that understanding these documents is crucial to avoid any surprises down the line.
Understanding Your Closing Disclosure
The closing disclosure is a five-page document that provides a detailed account of your mortgage loan terms, projected monthly payments, and closing costs. Review this document at least three days before closing to ensure everything matches your expectations.
One of the most common challenges we help Shelby families overcome is understanding the details in their closing disclosure, ensuring there are no errors before signing.
Closing Costs Breakdown
In Shelby, typical closing costs can range from 2% to 5% of the home's purchase price. These costs include loan origination fees, appraisal fees, title insurance, and escrow fees. It's important to budget for these costs early in the home-buying process.
In Shelby, Michigan, average closing costs can account for 2% to 5% of your home's purchase price.
Wire Transfer Safety
Wire transfer fraud is a growing concern. To protect yourself, always verify wire instructions directly with your Sonic Title representative and never rely solely on email communications. Confirm phone numbers and account details with a trusted source.
After helping thousands of Metro Detroit families, our team emphasizes the importance of verifying all wire instructions to prevent fraud.
Final Walk-Through Tips
Conduct your final walk-through as close to the closing date as possible. Check that all repairs are complete, appliances are working, and no new damages have occurred. Bring a checklist to ensure you don't miss anything critical.
Ready to take the next step? Contact us today at (313) 251-5145 for any last-minute questions about your final walk-through.
What to Bring to Closing
On closing day, bring a government-issued photo ID, a cashier’s check for the closing costs, and any other documents your lender may require. Having these items ready will ensure a smooth and swift closing process.
After Closing: What Happens Next?
Once you've signed all the necessary documents, you'll receive the keys to your new home. Your ownership is registered with the local government, and you can officially begin moving in. It’s also a good time to set up utilities and change your mailing address.
Whether you're moving in immediately or making plans, our team at Sonic Title is ready to assist you with any post-closing questions you may have.
Common Closing Day Questions
A common question we hear at Sonic Title is: "How long does closing take?" The answer is that the process typically takes 1-2 hours, depending on the complexity of your transaction and the number of questions you have.
Another frequent inquiry is: "When do I get the keys?" Generally, you'll receive the keys immediately after the closing documents are signed and payment is confirmed.
For Shelby residents, having a trusted partner like Sonic Title ensures your closing process is as smooth and stress-free as possible. Whether you're buying your first home or moving to a new neighborhood, our team is here to guide you every step of the way. Call us at (313) 251-5145 for a free consultation or visit Sonic Title online to learn more about our services.
Fair Housing Notice: We are committed to the letter and spirit of the Fair Housing Act.
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.