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By Real Estate Expert KathyOHomes

Kathy Opolski with RE/MAX Associates Explains What To Expect At Closing

When a home sells things may differ slightly from state to state, but as a whole the majority of the details remain the same.  Here is an idea of what you can expect at your Salt Lake City Utah closing.

Depending on what state you reside in you may be closing at any number of locations.  In Utah the settlement is most often at a title company.  Regardless of where it is, the general rules are the same.  Both buyers and sellers must have photo identification with them. 

It is extremely important that buyers not take out any new credit or make considerable credit card charges before closing.  Your loan approval depends on the fact that nothing new occurs before you close.   Any significant shift in debt can kill the whole deal.

Sellers should come to closing with all house keys or at least arrangements with their agent to transfer keys once recorded.  Also, make sure to tell buyers where all garage door openers are.  If there is a home alarm, tell them how to set it and how to disarm it so they won't accidentally set it off.  This is a good time to communicate any other information that may be helpful to the buyer, like where the water main cut-off is and how to work the sprinlkler system.

If a buyer is putting money down they will need to bring that amount to closing in the form of certified funds.  This typically means a certified check or cashier’s check from the bank.  Personal checks cannot be accepted- regardless of whether the money is in your checking account.  You will need to verify with your Salt Lake City Utah loan officer exactly how much you will need, they should know the amount the day prior to settlement.

If you are signing as power of attorney for someone make sure what documentation you will need ahead of time.  For example, if a document has to be notarized and it isn't it could delay the closing or cause it to reschedule completely.

Make sure before the day of closing that you have gone over the settlement statement with your loan officer.  You want to make sure you know all of the numbers that you will see on the paperwork so there are no surprises.  Also, make sure your loan officer can be contacted in case there are any questions.

For detailed information on how closings work in Salt Lake City Utah, contact real estate agent Kathy Opolski at 801-518-4599.

There is a lot of free information available about buying, selling or investing in Holladay and Salt Lake City, Utah real estate.  For complete information about the Salt Lake City real estate market including foreclosures, short sales and more, visit the website dedicated to everything Salt Lake City Utah real estate.

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If you or someone you know are in need of a competent and caring real estate professional in or near Salt Lake City, Utah, I will be happy to help, just call me at 801-518-4599.

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