Closing day is the culmination of the home buying process. It is the day when you will sign the final documents and officially become the owner of your new home. Here is what you can expect on closing day...
Final Walkthrough: Before the closing, you will have the opportunity to conduct a final walkthrough of the property to ensure that everything is in good condition and that any repairs or agreed-upon changes have been made.
Review of Documents: At closing, you will be presented with a stack of documents to sign, including the mortgage agreement, deed, and various other contracts and disclosures. It is important to read through these documents carefully and ask any questions you may have before signing them.
Payment: You will need to bring a cashier's check or arrange for a wire transfer for the down payment and closing costs. These costs may include things like loan origination fees, appraisal fees, and title insurance.
Title Transfer: The title company will ensure that the property's title is transferred to your name and that any liens or claims against the property have been resolved.
Closing Disclosure: You will receive a Closing Disclosure statement, which will outline all of the final costs associated with the home purchase, including the down payment and closing costs.
Keys and Possession: Once all the documents are signed and the payment is made, you will receive the keys to your new home and take possession of the property.
Overall, closing day can be a long and stressful process, but it is also an exciting milestone in your home buying journey. By knowing what to expect and being prepared, you can ensure a smooth and successful closing.
Roger Lee & Donavan McFadden of the Marching 2 More Real Estate team extend our gratitude to our clients for entrusting us with their real estate endeavors. Your satisfaction and success are at the heart of everything we do.
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