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Writer's picturePenFed Realty Texas

SCRIPT: What to Expect on Closing Day

WHAT TO EXPECT ON CLOSING DAY CLIENT FACING SAMPLE VIDEO

VIDEO SCRIPT

Hi y’all, [JOE AGENT] with Berkshire Hathaway HomeServices PenFed Realty Texas & I wanted to take a couple minutes to bring you a little insight into the home closing process.  Specifically, what you should expect on closing day when purchasing a home.


So, you’ve made it through inspections, an appraisal, your final walkthrough & everything checks out. You’re ready to go & today is closing day!  The title company will provide a list of items to bring to the closing table such as a photo ID & funds for your down payment and closing costs.


Now, closing day is your chance to feel like a major league MVP as you are going to get to autograph a lot of documents.


Pending any lease-back terms in your contract, you will usually receive the keys to your new home & can begin moving in after the home is officially funded. Typically, the funding occurs on the same day as closing.


At the closing table, I always like to remind my clients of a few things to expect.  First, Texas is a non-disclosure state however, it doesn’t prevent the county from asking you what you paid for your home.  You will receive a very official looking letter asking you to disclose what you paid for the home.  I advise my clients to throw the letter away.  You are not required to respond and in my opinion, doing so could only cost you more money.  


Each year, the county reassesses your property value and I would prefer to have them make their own assessment.  If they assess the value as lower than your sales price, that’s great news because your property tax bill will be lower than you expected.  If they assess the value as higher, you simply provide the closing disclosure to the county within their specified deadline, typically in May, and the value will be adjusted to what you paid for the home.


Second, it’s important that you file for a homestead exemption if this is your primary residence.  Homestead exemption in Texas provides you multiple benefits.  It limits the amount the county can raise your assessed value and it provides a $25,000 homestead exemption from your home's value for school taxes. You will receive letters offering to file the homestead exemption for you for a low fee.  This is absolutely not necessary as it is a very simple form that you can complete on your own by going to the county’s website.

And last, closing day is the finish line at the end of your home-buying journey but certainly not the end of our relationship.  I’ll be here for you before, during and after the transaction.  One of the benefits of working with me is my affiliation with PenFed Credit Union. I’m able to provide you a free membership to Penfed Credit Union which provides you amazing discounts such as 10% off tires at NTB, discounts on car rentals, amazing car finance rates and much more.  There’s no cost to join and PenFed even provides the $5 to open your account and gives you a $100 Amazon gift card at closing!


If you have any questions about closing day or would like to begin the journey to search for your new home, give me a call & let’s discuss your unique home-buying situation.

This is [JOE AGENT] with Berkshire Hathaway HomeServices PenFed Realty Texas…have a great day!


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