Buying a new home can be exciting and yet very stressful. It’s helpful to know what you can expect from your homebuilder, as well as what’s expected of you. Whether you’re a first-time buyer or simply need a refresher, we’re here to help you understand the requirements and processes that are involved with our new construction closing process. A lot of parties will play a role during your closing, but we take pride in doing everything within our power to make the process as easy as possible.
For starters, we’ll give you the information you need, when you need it. We’re also available to answer any questions you have regarding your closing. When your closing time arrives, you can rest assured knowing that one of our company’s owners will be sitting at the table. Thanks to our Higher Standards, we can confidently attend your closing knowing that you’re getting a home built with quality.
COUNTDOWN TO HOME OWNERSHIP
Closing on your new home is less stressful when you know what to expect. Here’s a guide to help you understand how the process works.
Make Your Plans: 45 – 60 Days Prior to Close:
Closing typically occurs 45-60 days after your countertops are installed, depending on your community and the size of your home. So, after your countertops are in place, your New Home Consultant will provide a tentative closing schedule and details on your walk through.
If you plan to finance your home, it’s a good idea to check with your lender after you receive your closing schedule to make sure that the bank has everything needed to process the loan. Depending upon the type of financing you arrange, an appraisal may be necessary.
It’s also a good time to secure a Homeowner’s Insurance policy if you haven’t already done so. Keep in mind that insurance companies may not bind coverage if a named storm is near the area. Your insurance agent is the best person to assist you if this situation arises.
Check the Details: 30 days Prior to Close:
About 30 days before you close, be sure to check your e-mail for a confirmation letter from your MasterCraft Team Member with your closing date, time and location. The letter will also include information on the title company who will perform your closing. Title companies typically require funds to be wired 24 hours before closing. The wiring instructions will be provided in your e-mail. A list of utilities offering services for your community will be included as well so you can set-up or transfer service to your new home.
Get Oriented: One Week Prior to Close
It’s almost time to take ownership of your new home. One week before closing, your superintendent will give you a homeowner orientation. During the one to two-hour walk through, you’ll learn how everything in your new home works. You’ll also have the opportunity to ask questions and address any concerns.
Your title company will send a closing disclosure with final details on the sale and if you are financing your house, the mortgage. The disclosure will include the loan terms, projected monthly payments and any additional fees required to obtain your mortgage. It’s important that you review this document carefully. You’ll want to know exactly what you’ll owe so you don’t have any surprises at closing.
If you’ve been too busy to contact the electric company, cable company and other utilities, now is the time to do so. You’ll want all of your systems up and running when the moving truck pulls up with your belongings.
You Made It: Closing Day
Woo hoo! After months of planning, you will finally own your new home. Before your closing appointment, you’ll do a final walk-through with your superintendent to confirm that everything is ready for you to move-in. The walk through usually takes about 30 to 45 minutes.
After your walk-through, you will come to our corporate office for the closing. Our team members, including one of our company’s owners, and your title agent will be here to greet you. In addition to signing all the necessary documents, you will receive all the community-related information and warranty documents you’ll need. Remember that any funding being wired either from the mortgage lender or your private bank must be received for the closing to be official. Once we’ve dotted all the i’s and crossed all the t’s, the most important transaction takes place… you will receive the keys to your beautiful new home!
Helpful Tip: Check your wallet and make sure that you have your driver’s license or a government-approved form of identification before you arrive at your closing.
OUR DOORS ARE ALWAYS OPEN, EVEN AFTER YOUR NEW HOME CLOSES
If any issues come up, even after you move in, we’re here for you. We’re always happy to take your calls and help out in any way we can. Our dedicated warranty team works tirelessly to do any necessary work or repairs quickly and properly. After all, your satisfaction is our top priority.
As a premier semi-custom home builder in Jacksonville, Florida with over 40 years of experience, MasterCraft Builder Group is committed to educating the community on best practices. If you have any questions about our new construction closing process, please contact us or give us a call at 904-274-2773.