Double-Check the Money
Before the final closing day, there are several things you should do in order to be certain that your real estate transaction will not only close on time, but also close smoothly. A couple of days before closing, you should review your final closing statement or HUD-1 Statement, whichever is used in your area of the country. Go over all the calculations. Make sure that you are given credit for all your deposits and that any other credits due to you from the seller are listed. Go over all the lender, title or escrow fees to be sure they are what you had been told and that you agree to them. Check for errors in the math calculations on the closing statement.
Review the Documents
Review the preliminary report or the guarantee of title insurance carefully. Verify the exact legal description of the property and any liens, encumbrances or other items which may have been discovered on the property. Be sure any items that you did not agree to be removed. Verify that the title or escrow agent has your correct vesting, or the way you want title to be taken on the property. The reason for this importance is simple; in order to correct a vesting on a deed after the closing of escrow will prove time consuming.
Re-Inspect the Property
Other than reviewing and verifying the paperwork, you should reinspect the property once again just prior to closing. Ask yourself, is everything the way you expect it to be? Have all corrective work and necessary repairs been done that were promised to you? This is important because you don't want to discover unexpected surprises when arriving at you new home.
Check and Double-Check
With absolute importance, you want to be certain that all the conditions of the purchase contract have been met. Be sure that all directions given to the closing agent have been performed. Finally, before signing your name to any closing documents, check and double check that everything is correct, including the interest rate, fees charged and the condition of the property.