Step 18 for Home Buyers: “Clear to Close”

“Clear to Close” is a notification that we will receive from the lender.  Clear to close comes when your loan has received final approval from underwriting.  This final approval comes after a thorough and timely review of all of your financial info by the lender.  The lender may have asked again to verify all the information you provided at the beginning and this is the step where “Guarding your Finances” matters … if there has been a significant decline in your financial health you may yet not be allowed to close your loan.  But knowing that you’ve been vigilant, this stage should simply be one of final verification of your financial info.

Final Closing Documents Accompany the “Clear to Close”

As the lender declares that we are cleared to close, final closing documents will be prepared and delivered.  There are government rules requiring that final closing documents must be delivered to a borrower several days before the closing can occur.  This is the final deadline we have to meet to close on time.

Time to Finalize Delivery of Funds

When we have been cleared to close, it is time to arrange for your wire transfer for closing, remind anyone you are depending on for help or coverage about when your closing date and time will be, and keep on track with your packing and preparing for the move!

Questions?  Feel free to reach out if we can help you with any of your real estate needs:

Maureen Watson: 317-752-3377                       

Posted on November 20, 2018 at 12:28 am
Maureen Watson | Category: Steps for Buyers | Tagged , ,

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