With the spring home selling season moving forward in earnest, perhaps you have already found a home that you like and have been approved for a mortgage. If that should be the case, then the next major event after settling on a purchase price will be closing on the home — transferring ownership into your hands.

But, before you get to that point, you’ll want to make sure that you have all of your paperwork in order because when closing day arrives, you will need to be ready to go.

Required Closing Paperwork

The paperwork required at closing will vary depending on your jurisdiction, whether financing is required and other local factors. Still, when you get down to it, you’ll be signing your name over and over again, steps which will put the house in y0ur name while ensuring that sufficient insurance coverage is in place.

Present at the closing are the buyer, the seller, attorneys representing both parties and sometimes the real estate agents. In some locales only the buyer will be present with the attorneys while in certain circumstances the attorneys can handle everything at closing as long as the paperwork is in order and that your signature can be found on the appropriate documentation.

More Documents Than You Might Imagine

When closing, quite a few documents will pass before your eyes. These may include a settlement statement, purchase contract, home loan paperwork, title insurance, documentation proving homeowners insurance, and the deed to the property. Separately, you’ll be given a sheet with the closing costs spelled out, detailing exactly what you owe.

At closing, this will be your last opportunity to make sure that the home you are buying is in the shape you expected it to be. Likely, you already did a final walk through to verify that all problems were addressed to your satisfaction, but if there is anything that still needs to be resolved, then make sure that it is done before you sign the paperwork.

Review Your Paperwork Carefully

A few days before closing, you’ll be given the chance to review some of the paperwork including the settlement statement and closing costs. Once you’re satisfied with those details, then you’re ready to proceed to your closing.

Most jurisdictions require that the real estate agent representing the seller file the deed of sale within 24 or 48 hours. You’ll still be able to move into the home when the keys are handed to you at closing, but you’ll be looking for verification a day or two later, one more piece of paperwork to be safely filed away with all of your other important records.

Adv. — Spring is here, the perfect time of the year to whip your lawn and gardens into shape. It is also a good time to shop online to find the tools you need to get the job done. Helpful tools such as a mantis till, the perfect cultivator to help bring your garden alive. Shop for Arbico Organics for the healthiest vegetables and head over to Yard Parts Express to locate discount lawn equipment and spare parts.

Photo Credit: Laura Shreck

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