What to Expect During the Closing Process

When you purchase a home, the last step in the process is closing. Closing day is when a buyer becomes the legal owner of a home.

At least three days before closing, you will receive a Closing Disclosure (CD). The CD outlines the final costs and terms of your mortgage, along with estimated taxes, how much money you need to bring to closing, and other important information. Your settlement agent will inform you on any documents you need to bring to closing, but expect to bring a photo ID, homeowners insurance policy, a cashier’s check, and your checkbook.

When you arrive to the closing table, here are some things you should expect:

  1. To Review and Sign Closing Documents

Ensure that all the information matches what you expected and be sure to ask  questions. These documents may include your CD, loan application, mortgage note, deed of trust, title documents, deed, affidavits, etc.

  1. Pay Down Payment and Additional Costs

If you haven’t paid these costs via wire transfer before closing, make sure you bring a certified cashier’s check to cover your down payment, closing costs, interest, taxes, insurance,  etc.

  1. Get the Keys to Your New Home!

Depending on the terms of your contract, you may get the keys to your new home when the deed is signed or after it has been recorded.

  1. Take a Closing Pic

Many buyers like to take a closing picture with their realtor as a memory of their home buying experience.

Pictured Above: Agent Greg Bentz after closing on an investment property for Yuco Property Partners LLC

If you’re looking to buy a home, The Realty Group Team is here to help! Please Call/Text Teresa Grant at (434) 546-3202

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