Closing Day

Most sale contracts entitle you to a walk-through inspection of the property 24 hours before closing. This is to ensure that the seller has vacated the property and left it in the condition specified in the sales contract. If there are any major problems, you can ask to delay the closing or request that the seller deposit money into an escrow account to cover the necessary repairs.

On closing day, be prepared to sign a good number of documents concerning: 1) the terms and conditions of your lender, and 2) the agreement between you and the seller transferring ownership of the property. Your loan officer will briefly explain the purpose of each document as you sign.

Once you’ve reviewed and signed all closing documents and the check has been handed over, the house keys are yours and you will have successfully bought your new home! Congratulations!