The Closing Table

The home buying process can be long and daunting. From trying to find the right home to facing rejected offers, it can seem endless. Eventually, you will find the right home and get that offer accepted. Now you must face the next phase what’s called “closing” on a home. What exactly happens at the closing table can vary based on your own situation, but the important thing to know is that the closing table is where the deal is sealed and signed. The home of your dreams will finally be yours!

Find The Location

The location of the closing will be determined beforehand. It’s usually at a lawyer’s office but it could be at a realtor’s office. The attorney who has been chosen will be noted on the closing documents you receive before you get there.   

Get Ready To Write Large Checks

When you’re closing on a home, this is the time that the downpayment is expected along with all of the lawyer’s fees, taxes, commissions, assessments, and other agreements. This money should be presented at the time of closing and there’s no wiggle room on the timing, so be sure you have the cash handy in your account. Often, a bank check will be required to pay these fees along with the downpayment. Your lender will give a a detailed report of the fees that are required before you even head to the closing table, so you’ll have time to prepare.

Do Some Hand Stretches

There will be plenty of pens available at the closing. You’ll be there for awhile signing many important documents, so bring some water. If you don’t have a safe or file folders, you’ll want to get them as well. Depending on how your closing is conducted, a lawyer or other authorized person will be present to explain the legal jargon to you for every piece of paper that you’re signing. Every document that you sign should be saved for your reference and safe keeping. The proof of insurance and the deed to your property are definitely documents that you’ll want to have handy for a long time to come. Your home is one of the largest purchases that you’ll ever make in your lifetime, so be sure to keep that paperwork in order. 

After Closing Ends

After all of the papers are signed and the walkthrough of the home is complete, you’re a homeowner! In most cases, you’ll be able to call the home your own immediately. In some special cases, there are post-closing agreements that include repairs that couldn’t be done ahead of time, or other transactions that the seller may have agreed with you on at an earlier date. 

In most cases, everything will be taken care of right at the closing table. One of the most exciting moments is when the keys are handed over to you! After a long time of searching, many phone calls, and a lot of work, now you can start putting that elbow grease into your home!

3 Questions to Ask During the Homebuying Process

The homebuying process sometimes can be tough to navigate. Fortunately, we’re here to help you achieve the optimal results throughout the homebuying cycle.

Now, let’s take a look at three questions that every homebuyer needs to consider as he or she pursues a home:

1. What is my “dream home” definition?

If you know what you want to find in your “dream home,” you may be better equipped than ever before to streamline your home search. Thus, it generally helps to establish a list of home must-haves and wants to guide you along the homebuying journey.

As you check out a broad range of houses, don’t forget to update your list of home must-haves and wants too. By doing so, you may be able to further accelerate your home search.

2. What can I afford to pay for a home?

The prices of homes vary based on location, size and other factors. As such, you may want to get pre-approved for a mortgage to ensure you know exactly how much you can spend to acquire your ideal residence.

Getting pre-approved for a mortgage can be fast and simple. If you meet with banks and credit unions, you can learn about all of the mortgage options at your disposal.

Of course, you should ask plenty of questions any time you meet with mortgage specialists. This will enable you to evaluate myriad mortgage options and choose a mortgage that complements your finances perfectly.

3. How can I quickly and effortlessly achieve my homebuying goals?

The homebuying journey differs from buyer to buyer. However, homebuyers who work with real estate agents typically can boost the likelihood of achieving the best-possible results during the homebuying journey.

A real estate agent knows the ins and outs of the housing market. He or she can teach you about the real estate sector and help you narrow your home search. Also, a real estate agent is unafraid to be honest with you and will offer unbiased recommendations to ensure that you can make an informed homebuying decision.

Let’s not forget about the comprehensive assistance that a real estate agent can provide throughout the homebuying cycle, either. A real estate agent will keep you up to date about available houses that match your homebuying criteria. In addition, he or she will set up home showings that enable you to check out residences in-person. And once you discover your dream residence, a real estate agent will help you put together a competitive offer to acquire this house.

Furthermore, a real estate agent is ready to respond to any of your homebuying concerns and questions. As a result, a real estate agent will allow you to quickly and effortlessly navigate the homebuying journey.

When it comes to buying a house, there is no need to worry. If you collaborate with a real estate agent, you can get the support you need to make your homeownership dream come true.