There are many steps in the home buying process – saving, searching, shopping, inspecting, etc. Once you get through all of these steps, you have finally made it to the closing table and are so close to being in your new home! Here’s a brief description of what to expect at closing:
The Buyer will sign numerous forms including settlement statements, title, and loan documents, if applicable. Important documents include, but are not limited to, closing disclosures, promissory notes, and deed of trust if financing is applicable and a copy of warranty deed for review to confirm the name of the people taking title. Now after signing, the closing team will then process the documents for funding to finalize the sale. This can take anywhere from an hour for a cash transaction to up to several hours if the title company has documentation to submit to the lender for approval. If the seller has already completed their side of the closing for the sale of the home you are buying, the last step is obtaining the mortgage company’s approval to release the funds. Now once the transaction is funded and all monies are dispersed, the buyer gets the keys which is the best part. The title company then submits the warranty deed to the appropriate government office for recording which conveys title of the home to the new owners.
For more information, reach out to a Republic Title rep or your real estate agent. We look forward to seeing you at the closing table!
