At the Closing Table
You made it. Now, be prepared to sign numerous documents. On the one hand, closing on a home can be very intimidating, however at the actual closing table, it should be fun. People that have helped with your transaction will be there. Typically, your loan officer, agent, title company representative/attorney, and sometimes the sellers and their agent will all be there. This is where the legal transfer of ownership takes place and title to the property is signed in your name. During closing, if you have questions, ask them.
What Documents Do I Sign?
There are many documents that need be signed at closing. All the paperwork that your loan officer and lending company put together, the “Lenders Package” has to be signed and then there are documents that need be signed which are tied to the transfer of the property between you and the seller. For a more in depth look at specific types of documents that need to be signed and a more expansive review of the real estate closing, take a look @ The Closing Table.
On the day of closing, chances are you will be required to bring a bank check/certified funds made payable to the title company/attorney to cover the costs associated with your transaction. These costs can quickly add up to a large amount. For instance, try reviewing an example HUD-1 Settlement Statement and pay close attention to the buyer items on the document. Your real estate agent, title company/attorney, and loan officer should all know the exact amount that you will be required to bring. Check with them a few days before closing. For further reading, click Home Buyer Closing Costs.
That’s it, that’s all there is to it. Now that you have the keys to your new home, all the required paperwork has been signed, and you’re prepared to start making mortgage payments, it’s finally time to relax and go home. The dead will be recorded and monies disbursed within the following day(s) and after that, it’s all finished.
Keep In Mind
Hopefully, everyone involved with you and your new home provided excellent service, service that you will eventually have the opportunity to tell friends and family members about. Maybe you might have even made some friends during the process. Either way, it’s a great idea to stay in touch with the people involved, because throughout the years, you may need to refinance, sell your home, or even renovate/remodel your home. All of us can help and we always enjoy hearing from a satisfied client. From all of us involved in your transaction, we send warm wishes and happy memories!