Closings

Closings

Closing On Your New Home

It is here! The day you have been waiting for. Closing Day. The long and winding road has come to an end. The next step is becoming the owner of your new home. The Proud New Homeowner.

Prior to closing, GaHomeFinders.com recommends you do a walk-through. A walk-through gives you the chance to check and see if the property is in the same condition as when you bought it and so you can check and see if all the repairs (if any) were done.

The contract will also need to be checked to make sure no last minute detail has been overlooked. Depending on how the property is being financed, other documents may be needed to close. For example, a wood infestation report, septic letter (if any) home warranty, etc. These items need to be present at closing.

The closing is done at an attorney's office. The closing usually follows a fairly standard format, which consists of:

	Signing the settlement statement. (HUD 1)
	Signing the closing documents.
	Paying the down payment and closing costs to the closing Attorney.
	Funding from the lender. (If Any)
	(HUD- I form). This form needs to be reviewed prior to closing. The HUD-I form will give you the exact amount of funds to bring to the closing. If the closing statement is not available early, the lender will get you an estimate of the funds you need in order to close. The good faith estimate you received when applying for the loan should be close to the dollar amount you will need.

After everyone has reviewed the closing statement and every is in agreement with it, the closing documents will be signed and the home will be yours!

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