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Closing on a House? Everything you need to know…

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Closing on a House? Everything you need to know…

Closing on a House? Everything you need to know…

Closing on a house can be an exciting and stressful time for both buyers and sellers.

Here’s everything you need to know to make the process go as smoothly as possible:

Understand the Timeline: Closing typically occurs 30-45 days after the purchase agreement is signed. During this time, both parties will work to finalize the details of the transaction, including financing, inspections, and any necessary repairs.

Review the Closing Disclosure: The Closing Disclosure is a document that outlines the final terms of the loan, including the interest rate, monthly payments, and closing costs. Review this document carefully for accuracy.

Bring the Necessary Documents: On the day of closing, be sure to bring a valid form of identification and any other documents that may be required, such as proof of homeowners insurance or a cashier’s check for the down payment.

Conduct a Final Walk-Through: Conduct a final walk-through of the property to ensure that any repairs or agreed-upon changes have been made and that the property is in the condition you agreed upon.

Sign the Documents: At the closing, both parties will sign a variety of documents, including the mortgage agreement, the deed, and the settlement statement. Be sure to read each document carefully and ask any questions you may have.

Pay Closing Costs: Closing costs can vary widely, but typically include fees for title searches, inspections, and legal services. Be prepared to pay these costs at closing.