How to do Closing Day right

1. Finalize Mortgage Details. Meet with your lending institution the day before the house closes to make sure payment details are arranged and to sign any required paperwork. You may also require mortgage default insurance from a lender such as Genworth Financial.

2. Get the Deposit Ready. Depending on what type of investment you are using to make the down payment on the mortgage, you’ll need to liquidate the assets well before closing day.

3. Speak with Your Lawyer. Have a meeting the day before closing to go over the final numbers and details, and review the mortgage before you sign. You should also review documents relating to ownership of the property and conditions of purchase.

4. Do the Deed. A deed is a legal document signed by vendor and purchaser that officially transfers ownership of the home and is registered in your name. Your real estate lawyer should provide this document to you for signing.

5. Set Up Utilities. A week before you close, book appointments to have your cable, TV and security set up.

6. Get Your Insurance In Order. Have home insurance in place for the moment your home comes into your possession, and be familiar with the details of your policy.

7. Sort Out Your Move. Moving is a big job! Although you may want to do the entire move yourself, there are benefits to entrusting this job to professional movers. Do some research before you decide what is best for your personal situation.

Once the mortgage, other payments and deed have been processed and recorded, your lawyer will notify you that the home is now yours. Closing–day glitches may still occur, but patience and careful planning will ensure the day goes smoothly and that none of the hold–ups are from your side of the transaction.