Closing the Deal: What to Expect on Your Final Day of Home Buying

After weeks or months of searching, negotiating, and preparing, the day you've been waiting for has finally arrived - closing day. This is the day when ownership of the property officially transfers from the seller to you, the buyer. While closing day marks the end of your home buying journey, it's also the beginning of an exciting new chapter. Here's what you can expect on your final day of home buying.

### **1. Final Walkthrough**

Before closing, you'll have the opportunity to do a final walkthrough of the property. This is your chance to ensure that the home is in the same condition as when you last saw it and that any agreed-upon repairs have been completed[4]. Your real estate agent will accompany you during the walkthrough to document any issues.

### **2. Signing Documents**

On closing day, you'll be signing a lot of paperwork. The closing agent will guide you through the process, but expect to sign documents such as[1][3]:

- The closing disclosure, which outlines the final costs associated with your mortgage

- The mortgage note, which is your promise to repay the loan

- The deed, which transfers ownership of the property to you

### **3. Providing Identification and Funds**

You'll need to bring a few items with you to closing[2][3]:

- A government-issued ID, such as a driver's license or passport

- A certified check or proof of wire transfer to cover your down payment, closing costs, prepaid items (like property taxes and insurance), and any outstanding balances

Your lender will distribute the funds to the appropriate parties, including the seller and any lienholders.

### **4. Receiving the Keys**

Once all documents are signed and funds are disbursed, you'll officially become the new owner of the home. Your real estate agent or the closing agent will hand you the keys, and you'll be ready to move in[3][5]!

### **5. Celebrating Your Accomplishment**

Closing day is a momentous occasion, so don't forget to take a moment to celebrate your achievement. Buying a home is a significant financial and personal milestone, and you should be proud of the hard work and dedication it took to get to this point.

### **Conclusion**

Closing day may seem daunting, but with the right preparation and guidance from your real estate team, it can be a smooth and exciting experience. By understanding what to expect and bringing the necessary documents and funds, you can focus on the joy of becoming a homeowner. Congratulations on reaching this milestone - enjoy your new home!

Citations:

[1] https://www.bankrate.com/mortgages/understanding-the-closing-process/

[2] https://www.travelers.com/resources/home/buying-selling/house-closing-checklist

[3] https://www.themadronagroup.com/what-homebuyers-should-expect-during-closing/

[4] https://better.com/content/home-buying-process-timeline

[5] https://southoaktitle.com/blog/steps-to-closing

[6] https://www.investopedia.com/articles/mortgages-real-estate/10/closing-home-process.asp

[7] https://blog.hubspot.com/sales/real-estate-terms

[8] https://homesfy.in/blog/real-estate-market/first-time-home-buyers-guide-2024/