Thirty Days of Real Estate – Day 26: Closing on your new home

Real Estate with Dallice: It’s Closing Day!

Today is the day.  You’ll arrive at the title company, ID in your hand and check burning a hole in your pocket – ready, willing and able to close on your new home.

First, some truth. Closing is anticlimactic. The hard work has been done and all that is left is document signing. Well… a little more, but not much! And there SHOULDN’T be much more than that if your Realtor, lender and title company professionals are on their game.

Once inside, everyone arranges around the table with the Buyer and Seller closest to the Closer for ease of document explanation and signing.

There are normally two parts to closing. First the loan packet. The buyer’s lender will want the loan docs signed first so that they can verify that all is good before authorizing funding of the mortgage. The Seller sits quietly (or comes in later) for this portion.

The second part is the real estate closing. It’s for both parties and in the end, the Warranty Deed is what signs the property over from the Seller to the Buyer… a done deal.

The Buyer walks out of closing with keys. They generally (according to the Contract to Buy) will have Possession immediately. If the moving truck is not on its way, then I typically hear plans of an impending picnic or camping overnight. Fun!

That’s it. No, really… that’s it!

Every blog post to this point has been full of tasks, decisions, duties and obligations leading up to home ownership. After closing most of that is done. A lot of new bullet points occupy the Buyers to-do list though… so get moving.