Part 1: Contact a mortgage broker. Part 3: Decide what features you want in your home. Part 6: The Home Inspection & Other Contingencies. Part 7
The Closing
Finally we have made it to the end. This is the most exciting part. At the end of this step you will be the proud owner of your new home. The closing process is very important because this is where you will sign papers taking over ownership of the home and assuming the financial liability of the mortgage.
The closing company ensures that there is a clear title to be delivered to the buyer - this means that all liens against the property have been satisfied.
The closing company will also provide you with a HUD-1 which is the form that breaks down all the costs associated with the mortgage and the closing costs. This is the form that will let you know exactly how much money you must have present to complete the transaction. Each closing company has different rules about how the funds can be presented. It is important to review this form very carefully to ensure that it is accurate.
If you are ready start the home buying process give me a call!
Donations made to charity with every successful closing!
Dr. Stacey-Ann Baugh
EOP Real Estate, LLC
www.staceybaugh.com
staceyannbaugh@gmail.com
240-481-3565 (C)
202-789-2848(O)
FINALLY! A DOCTOR WHO MAKES HOUSE-CALLS!
YAY!! The Closing! Definitely the most exciting part. Stacey-Ann you've done a terrific job with this series. Terrific information for buyers and I can tell, you can get them to this last and happy step!
Stacey-Ann, I thought this was a really fun challenge, both writing it and reading every one else's posts. Good job!
This was fun and I learned a lot doing it too.