Closing Your ICI Home
Five Easy Steps to Closing Your ICI Home
After watching your new home come to reality, the time has come to prepare to close or settle on your new home. ICI Homes uses the experts at Southern Title to prepare your closing documentation and close your new home with you. Good communication on all sides is essential for an efficient closing process. This can be the most stressful time, but it’s also the most exciting time and being prepared is the key to a smooth closing.
Step 1: Prepare to Close, Stay In Touch
Approximately thirty days prior to your closing, you will receive a Closing Letter from ICI Home’s Closing Department with your closing date and location. This notice contains necessary information needed to ensure a smooth closing. Should you be financing your new home, now is a good time to check with your lender to be assured you have met all of the conditions of your loan approval and that all is on track to meet the closing date.
Step 2: Line Up Your Insurance and Utilities
Contact all local utility companies to start service in your name as of the closing date. If you have not yet contacted an insurance agent to acquire Homeowner’s Insurance, you should do so at this time. Your lender will normally require a twelve month prepaid policy in order to process your package for closing. Please be sure to get your insurance agent’s name and address to your lender as soon as possible.
Step 3: Finalizing Your Closing Figures and Wire
Once your lender has finalized their closing package, they will give you the final figures for closing which must be wired to the Title Agent. (Southern Title will send their wire instructions via USPS to your address. For safety measures, Southern Title cannot email wire instructions to you but are happy to discuss over the phone should you need).
Step 4: Closing Your New Home
On this important day, you’ll meet with the Title Agent to sign your closing documents. It is the Title Agent’s responsibility to disburse all money to the appropriate parties and to record the necessary documents to protect the interests of you and your lender. Once signing is complete, you will receive a Closing Binder which will include a copy of the paperwork along with your keys, garage door openers, original survey, termite treatment warranty, copy of the Certificate of Occupancy, and a number of other ‘builder’ materials. Your warranty deed and title commitment will be mailed to you in 4-6 weeks. The whole process usually takes about an hour. Once concluded, it’s official!
Step 5: Take Possession of Your New Home
You are now the proud owner of your new ICI home! It’s finally time to move in. Take the first few weeks to become familiar with your home and note any items you may discover as you settle in which might need repair or attention. Please Log In to the ICI Homes’ warranty department ‘web portal’ as outlined in your Closing Binder so we can schedule time to complete any outstanding items on your list.