You've gotten an offer accepted on your first home. The appraisal and inspection came back fine. Now, all that's left to do is eagerly await your closing date. This is the day when you will sign all the paperwork that makes your first home purchase official! So, what should you expect as you prepare for this big day? While closing procedures can vary a bit from one real estate transaction to the next, there are some basic things you can expect on closing day.
If you've been working with a real estate agent during your homebuying process, they should provide you with a detailed list of everything you'll need to have prepared for your closing date. Some common documents and items may include:
Most of your closing appointment will consist of you and the seller signing paperwork to legally transfer ownership of the property to you. The number of documents that you will be required to sign can overwhelm; it's helpful to understand a few of the crucial documents you'll be signing and their purpose. Some of the key documents you will review and sign on your closing date include:
At closing, you will also provide any payment that is due according to your disclosure; this may include the down payment on the property, any closing costs and legal fees as well. Unless otherwise agreed upon, you will receive the keys to your property and assume ownership as soon as closing is completed.
As long as everybody comes prepared, your closing appointment should be done within an hour. However, some more complex situations may take longer. Your agent should be able to give you a better feel for how long you can expect to be at the closing table. From there, it's time to celebrate your newfound homeownership!
Hi, I'm Robin Brady serving the Myrtle Beach SC area and the triad area of NC which consists of Winston Salem, High Point, Greensboro, Lexington and surrounding counties and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, or you would like to talk to me about selling your home, you'll benefit from having a real estate professional by your side. Call me!
Welcome Home Realty, LLC 336-416-3652
Coastal Properties of Myrtle Beach 843-808-1400