Buying a house is an exciting time. Why you should avoid Fridays — and the 15th — when closing on a home (Gerry Broome/AP) By Sandy Gadow June 30, 2015 at 9:00 AM EDT. If you’ve been searching for a home for months, you may be eager to wrap up the closing as quickly as possible. Let’s talk about what you should expect on the big day. Share. If you have everything in order, your closing process should be simple. The closing funds are then certified by our firm and forwarded by our courier along with all closing documentation to the Vendor's lawyer. Here's what to expect from the closing process. Holly Welles. Buying a home is a process, and the reward is finalized by closing on a house. Closing on a home is an appointment where you officially purchase the property. Name * Email * Website. On closing day, aka settlement day, you’re signing off on all the home purchase paperwork. Closing Day: Keys & What to Expect; Get a free price quote. When’s the Best Time to Close on a Mortgage? The following are things that need to be in place prior to closing because the day of closing on a house belongs to the Buyer. Both parties are allowed "reasonable adjournments" of the closing, unless the contract specifically contains a "time is of the essence" clause, which may void the contract. The property title will be signed over from the homeowner to the buyer, thus transferring ownership. No Comments. Closing day is the most anticipated day of the home buying process primarily because it is the day you have somewhat been patiently waiting for. Here's what usually happens at closing: The home buyer will bring a cashier's check to cover all remaining closing costs and fees. As long as you have all of your finances in order, your closing day will be a stress-free one full of simple signings and the all-important turning over of the keys. Before you get the keys to your new house, though, you’ll have to sign on the dotted line at the closing table. Holly Welles is a real estate and home improvement writer who wants you to feel confident about tackling any new housing adventure. On a real estate closing day, the chief order of business is to transfer funds. A closing date on a real estate contract is not always cast in stone, and does not automatically void the contract. You’ve saved, you’ve done your research, and you’ve probably walked through quite a few houses before you found the one that feels like home. The home buying process is like a marathon, not a sprint. Jul 31, 2017- Pictures of people on closing day, when they bought a house. Your first monthly home payment will not be due at the closing date, but you will be charged interest for every day you own the home, including the time between closing and the end of the month. Leave a Reply Cancel Reply. You and your spouse will likely be excited as your mortgage closing date approaches and the home of your dreams is almost within your grasp.