Finally, we arrive at the most exciting part of your home purchase – the closing. That’s when the ownership of a house for sale transfers from the seller to you, the buyer. At the closing all existing liens are paid off and you will sign your new home mortgage documents.
The closing usually occurs at a title agency and takes between 30 minutes and 1 hour. There are quite a few documents to sign, most of them related to the financing of your purchase and your loan.
Don’t worry! As your Columbus real estate agent, I will attend the closing with you.
The final video in our series of how to buy your first home walks you through the actual closing process. It explains how you can make sure that the loan you were offered closely matches what you encounter at the settlement table. In particular, you will find a detailed explanation of the HUD-1 Settlement Statement and how you can compare the actual closing costs with those reflected on your Good Faith Estimate.
Do not hesitate to call me, if you have any additional questions. I love to work with first time home buyers and will help you understand the closing process, before you sign any papers.
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Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Real Estate Agent helping First Time Buyers.