What Minnesota buyers and sellers should bring to the closing table

Key Insights

• Closing can be an exciting, but stressful process that can go more smoothly the better prepared you are.
• The closing process is different for buyers and sellers, and each party will need to bring different things to closing.
• Working with a REALTOR^Ⓡ will ensure that you’re hitting all the marks on your closing checklist.

Closing on a house checklist steps + what to bring

Buying and selling a home can be a stressful process, and closing day can be especially nerve-wracking. Luckily, there are ways to ensure it goes as smoothly as possible with this closing checklist and working with a trusted title company like Edina Realty Title.*

This article will better prepare you for closing day by helping you understand the closing process and what to expect. Our real estate closing checklist will ensure you have everything you need so you can go to the closing table confidently.

Read: Buyer FAQs about title and the closing process

What to do before closing on a house

It's crucial for both buyers and sellers to be well-prepared for closing. This will help ensure a smooth transaction and prevent any last-minute hiccups that could occur from not doing the proper work that’s required prior to closing.

While the process varies depending on whether you’re the buyer or the seller, it’s equally important for both parties to do everything they can to prepare for the closing and prevent lost time during the actual closing process.

Things to do before closing on a house if you’re a buyer

• Schedule inspections and appraisals
• Do a final walk-through
• Review your closing disclosure
• Ensure all contingencies are taken care of
• Finalize financing
• Get homeowner’s insurance
• Determine how you’d like to pay for the down payment, closing costs, taxes, etc. (a certified check or cashier’s check works, but you may also do a wire transfer in advance)
• Contact the closing agent for any specific instructions (note: if you have a real estate agent, they’ll do this for you!)
• Assemble all documents and items needed for the closing table
• Electronically sign any closing documents you can
• Check-in with your REALTOR (and attorney, if you have one) to see if there are any last-minute items you need to attend to

Things to do before closing on a house if you’re a seller

• Take care of contingencies
• Work with the buyer’s inspectors and appraisers
• Complete any repairs you may have agreed to perform
• Perform a title search
• Inform utility companies of a final service date
• Find out closing costs (transfer tax, escrow fees, title insurance, etc.) and prepare funds via cashier’s check or wire transfer
• Plan your move
• Electronically sign any closing documents you can
• Contact your lender to start the mortgage payoff process (your title company will likely do this)
• Order pre-sale city inspections and/or code compliance (if applicable)
• Collect lien waivers and/or bills for any work completed on the property within the last six months
• Gather the name of the lender(s) and loan numbers for current mortgages, 2^nd mortgages, lines of credit, home equity loans and any other property liens
• Order home warranty
• Review title commitment and contact closer with any questions or concerns
• Review preliminary settlement statement
• Assemble items need for the closing appointment
• Connect with your agent to see if there’s anything else you need to do before closing

Note: don’t cancel your homeowner’s insurance policy until the property has been officially transferred

Read: Seller FAQs about title and the closing process

An important note about cyber scams

Cyber fraud in the real estate industry is on the rise. It’s important that all parties of the transaction, including buyers and sellers, are aware of the risks. These fraud attempts are pervasive, convincing and constantly evolving. Many sophisticated parties have been duped. Prevention is key—always work directly with your lender and ask your agent if you have any questions.

If you receive wire instructions by email, do not send money to that account and contact your lender immediately. Edina Realty Title will never send wire information via email, ever!

What happens on the day of closing? House closing checklist

Closing often takes place at a title company. And while buyers will most likely need to attend to sign original loan documents, the sellers might be able to complete and sign their documents through a Remote Online Notary or attend an in person signing.

The closing process might vary in terms of length and order, but there are a few things you can expect to check off on your closing day checklist.

1. Provide documents: The closing agent will make copies of your ID and other important documents like your proof of homeowners insurance and proof of repairs.
2. Set up escrow account: Depending on the terms of your mortgage, buyers may need to establish an escrow account to hold money to cover home costs like property taxes and homeowners’ insurance.
3. Transfer any required funds or payments: Hand over your cashier’s check or proof of wire transfer.
4. Review and sign documents: You’ll be asked to sign a number of important documents—this will take up a big portion of the closing process. You can help move things along by reviewing and electronically signing any documents you can before the closing date.
5. The official handoff: Congratulations! The sale/purchase of the home is complete!

Read: Who pays closing costs in Minnesota and Wisconsin?

Things to bring to closing checklist for buyers

Closing is an exciting time for homebuyers—you’ve probably been dreaming of this moment since you first started searching for your new home and it’s the last step before you can start making the home yours. But with all that excitement probably comes some nerves and anxiety.

One way to lessen those fears is to feel prepared by triple-checking this closing checklist for buyers. Make sure you are constantly checking all communications (a title company like Edina Realty Title will reach out with reminders) and keeping in touch with your REALTOR so you don’t miss any last-minute changes or requests for items to add to the following buyers' checklist for closing.

• A valid photo ID
• Your social security number
• A checkbook
• Proof of homeowners insurance
• A copy of the contract with the seller
• Certified check, cashier’s check or receipt of wire transfer for the downpayment, closing costs, taxes, etc.
• Any other materials requested by the bank
• Home inspection reports
• Closing Disclosure

Things to bring to closing checklist for sellers

Selling a home can cause a great mix of emotions. Maybe you’re excited to start the next chapter of your life, but you might also be feeling sentimental about the memories you’re leaving behind. Sellers are probably also very busy getting their home packed up, repaired and ready for its new occupants.

Reduce the amount of stress by taking one thing off your list and gathering all the items from this checklist for closing on a home and having it ready to go so you aren’t scrambling trying to find what to bring to closing hours before you’re scheduled to close.

• A valid photo ID
• Property tax receipts
• Home warranty information, if applicable
• Personal checkbook for incidentals or incorrect calculations (if proceeds from the sale are to be wire transferred, bank wire information is required)
• Proof of repairs

Reach out to Edina Realty for answers to your closing questions

Closing can be a stressful time, and a seasoned REALTOR and reputable title agency can be your biggest asset and advocate during the closing process. Whether you’re just starting your search, ready to list or trying to find a closing on a house checklist, an Edina Realty agent and Edina Realty Title closer can help you move forward.

Reach out for more expert advice on what to bring to a house closing and the answers to hundreds of other questions you might have about buying and selling a home.

*Edina Realty Title is an affiliate of Edina Realty. See Affiliated Business Arrangement Disclosure Statement