closing 101 everything you need to know
what to expect
Attorney will look over the purchase contract to: identify what payments are owed and by whom; prepare documents for the closing; conduct the closing; make sure taxes, title searches, real estate commissions and other closing costs are paid; ensure that the buyer’s title is recorded; and ensure the seller receives any money due.
Closing Table
Congratulations!
Time To Celebrate!
The closing process finalizes the purchase of your home and makes everything official. also known as settlement, the closing is when you receive the deed to your home.
Prior to closing, you should change all utilities into your name, and complete a final walk through to check for any outstanding items.
What to bring to closing
Your attorney may advise you to bring additional documents to the closing, but here is a list of the most common items:
- A valid government issued photo ID
- Cashier’s check for the total amount due (sometimes wire option available)
- Outstanding documents for the title company or mortgage loan officer
Your Costs
- Escrow fees
- Recording and notary fees, if applicable
- Title search and title insurance
- Origination, application and underwriting fees from lender
- Appraisal fees
- Local transfer taxes
- Homeowners Insurance
- Home Owners Association fees (if applicable)
- Agent commission (if applicable)
