Series - the Home Buying Process Part 7
You made it!
It's been a long journey, you've gone through some ups and downs but we finally made it to Closing Day!
The day before closing (or morning of) we will head to the house together to perform a Final Walkthrough. We want to make sure nothing happened to the house since the last time we saw it (holes in the drywall from moving out, tree falling in the backyard, water in the basement, etc.). Before you sign those papers you want to make sure it's exactly right!
We will go to the predetermined closing location. Often it will be at my office, the listing agent’s office or at the Title Company's office. As the buyer, you have the right to select the time and location of closing which we would discuss in more detail as that day approaches.
Three days before closing, the Title Company will send you something called an ALTA Statement. This will outline EVERY PENNY in the transaction that is transferring hands between all parties and you will know exactly how much you need to have your Certified Check made out for and to whom.
At closing, you will be the busy signing the majority of the documents. The bulk of what you sign is called the Mortgage Package which outlines all the terms of the loan you are obtaining. You will have a chance to review all of these documents before you ever get to Closing Day so you'll have plenty of time to digest and understand them ahead of time.
The Title Clerk will gather all of the fully signed documents, the Mortgage Company will wire the funds, the Seller will be paid, the deed will be transferred and just like that ... You are now a HOMEOWNER and ready to start your new journey!!!
This whole process can take anywhere from 20 minutes up to about an hour depending on if there are any small discrepancies that need to be accounted for at the Closing Table.
It has been an absolute pleasure to guide you through the steps to owning your Home!
Let's review where we've been:
Step 1: Focus on Finances
Step 2: When am I ready to tour homes?
Step 3: What should my budget look like when purchasing a home?
Step 4: What are Closing Costs?
Step 5: Seller Concession and Reducing Closing Costs
Step 6: The OFFER
Step 7: Closing Day!
Now that you have a blueprint for the major milestones, I want to truly emphasize something ...
Every. Person. Has. A. Different. Journey.
As we wrap up...
This is about you! I am here as a guide, resource, and friend from start to finish.
I am always here to answer questions! I take pride in making sure the people I work with have an advanced knowledge of their home buying process so they know what to expect and can make smart, informed decisions along the way. We can only get you there if we have open, honest discussions about your needs and concerns.
Ready to get started? Click here.