Home Closing 101

§  Prepare for It

Closing day marks the end of your home-buying process and the beginning of your new life! To make sure your closing goes smoothly, you should bring the following:

§  A certified check for closing costs and down payment. Make the check payable to yourself; you will then endorse it to the title company at closing

§  An insurance binder and paid receipt

§  Photo IDs

§  Social Security numbers

§  Addresses for the past 10 years

§  Own It

Transfer of title moves ownership of the property from the seller to you. The two events that make this happen are:

1.     Delivery of the buyer’s funds

This is the check or wire funds provided by your lender in the amount of the loan.

2.     Delivery of the deed

A deed is the document that transfers ownership of real estate. The deed names the seller and buyer, gives a legal description of the property, and contains the notarized signatures of the seller and witnesses.

At the end of closing, the deed will be taken and recorded at the county clerk’s office. It will be sent to you after processing.