Home Buyer's Guide - What to bring to a real estate closing!

I have been asked by many Tomball TX home buyers what they will need to bring to a real estate closing. The first item that comes to mind is of course funds to close. I have had a few Veterans who did not have to bring funds to the closing table but not many. With the changes in the loan industry most 100% loans are gone so you will need some cash.

The money to pay all your fees and closing cost will need to be in the form of “guaranteed funds” such as a Cashier’s Check. Your agent or escrow officer will notify you of the exact amount. You will receive a closing document required by HUD that outlines the settlement cost. The Title Company prepares this document. The HUD statement is a little difficult to read as you read it backwards. You start with page two and then go back to page 1. Page 1 is the page that shows the funds you need to bring for your real estate closing. 

In a perfect real estate world a Tomball TX  home buyer would receive the HUD statement the day before closing so you would have time to go over it before closing. Unfortunately real estate is not perfect; I can’t tell you how many times we get the HUD from the Title Company at the closing table. I honestly don’t know why it takes so long but it is a very complex process. Should that happen you can bring a check using the figures your lender have come up with from your good faith statement. Should you not bring enough money you can write a personal check to the title company for up to $1500. On the flip side if you bring too much money the Title Company will cut you a check for the overage.

The other item you will need to bring to a real estate closing is a picture ID such as your  driver’s license or a passport. A number of years ago I had a client who was moving to another state. He came back  for the closing and to get his furniture. A few days before closing I found out that he had turned in his driver’s license to the other state and only had a piece of paper for a drivers license. He did not have another picture ID. Back then I talked the title company in to letting us get a membership at Sam’s Club and using it as a picture ID. As I told you this was quite a few years ago I’m not sure if that would fly today.  Long story short I highly recommend not turning in your driver’s license if you are planning on buying a house unless you have another type of picture ID.

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© 2017 Houston Association of Realtors All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Real estate listings held by brokerage firms other than Results Realty are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2017-05-28.

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