The Closing – You Are Now a New Homeowner
Review Your Closing Disclosure: This document is TIME SENSITIVE, so it’s imperative that you look it over for accuracy and acknowledge receipt of it or you could delay closing.
Review Your Settlement Statement: This document outlines all of the costs associated with your real estate transaction and closing funds. Your Realtor will review it for accuracy as well prior to sending it to you. The Title Company will review it with you at the closing, however, if you catch any mistakes before closing, it can save everyone a great deal of stress and time not having to adjust it at the last minute while everyone is trying to close the transaction.
Arrange for Your Closing Funds: How do you plan to pay your closing costs? By check, cashier’s check or wire transfer.
Attend Your Closing Appointment: Bring all documentation needed and your ID to the meeting. The Title company will let you know what you need to bring.
Sign the Closing Documentation and Provide any Wiring for funds instructions or other payment approved by the Title company.
Title is Recorded: The Title company will submit the necessary documentation to the Recorder’s office to have the property recorded in your name. You do not officially own the property until it is recorded, and because of this, the keys to your new home will not be given to you until after the property transaction has been recorded. This can take a few hours, and usually you are allowed to leave the closing meeting and will receive a call from your Realtor when the recording has been successfully completed.
Congratulations. You are now a new home owner. You receive the keys to your new home and can move in!
