The Day You Go To Closing
You have been through shopping & touring properties,
Have an accepted contract, conducted all the inspections,
went through the loan process & obtained approval...
Now it's time for CLOSING.
The closing process consists of several documents.
The Loan Package, Deed, Settlement Statement (HUD-1) etc.
You show up at the title co. You will meet your real estate agent,
your loan officer and the closing officer.
You have brought with you:
Proof of Home Owners Insurance.
Funds (money) in the form of a Cashiers Check made payable to
THE TITLE CO.
(in the amount located on the HUD-1.)
The buyer & sellers are sitting in separate rooms. Usually the
loan officer sits down & will have you sign the loan package.
(this will take 45-60 minutes) I will leave the room at this
time to respect your financial privacy. Then the closing officer
will enter the room, have you sign the deed & other legal documents.
Then you will actually sign the HUD-1. Hopefully you had a
chance to review it, the closing table is NO PLACE to see it
for the first time. If you have reviewed it, take a look and
browse over it again, MAKE SURE nothing has changed...
HUD-1's are frequently revised and it's also a good time
for some lenders to insert last minute junk fees.
[Look Below @ Some Mistakes I Have Found On HUD's]
Once you have signed it's final...
Then, for the most part, the closing is over. You'll meet the
sellers, (if they're in town) and receive keys / garage door
remotes. (depending on the day you take possession)
information approx, based on personal experience, all situations vary...
content is author's opinion only.