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Once you've found the home that's right for you, made an offer, and
completed negotiations, the closing process begins.
If you reserved the right to complete home inspections, these are
usually ordered immediately. The lender will also request an
appraisal of the property to confirm the purchase price conforms
with actual market value. If you asked for a survey of the parcel, that
must be done before closing day, as well.
Your lender usually needs a few weeks to process your new
mortgage loan. The title company checks property records to
ensure you'll receive absolute ownership of the home.
When these processes are nearly complete, the title company will
schedule a closing date. At closing, you will sign a number of
documents--especially if you are taking out a mortgage loan.
See the articles below for more details about the closing process.
completed negotiations, the closing process begins.
If you reserved the right to complete home inspections, these are
usually ordered immediately. The lender will also request an
appraisal of the property to confirm the purchase price conforms
with actual market value. If you asked for a survey of the parcel, that
must be done before closing day, as well.
Your lender usually needs a few weeks to process your new
mortgage loan. The title company checks property records to
ensure you'll receive absolute ownership of the home.
When these processes are nearly complete, the title company will
schedule a closing date. At closing, you will sign a number of
documents--especially if you are taking out a mortgage loan.
See the articles below for more details about the closing process.
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All information deemed reliable but not guaranteed.
All information deemed reliable but not guaranteed.
| Transforming the real estate industry one sale at a time. |
Links to Helpful Articles:
10 Things You Shouldn't Do When You're Buying a Home
From About.com
Your home buying process is well underway. The sellers accepted your offer to purchase. The home is
officially under contract and you're counting down the days to closing. The lender pre-approved you, so
buying the house is a sure thing, right? Not quite....
Loan Types
From Countrywide
Found your dream home? Just need the right loan? Read the information here about the special features
of Countrywide's loan programs...
Necessary paperwork for a buyer
From Bankrate.com
Mortgage lenders may require proof of your assets, income, credit quality and other financial information.
Here are some documents you may want to gather...
Understand the loan process
From Countrywide
Once a home has been selected, the processing of the loan can take up to 40 days or more if you use a
traditional lender such as a bank...
Anticipate total costs
From Countrywide
At the start of the home buying process and particularly at closing (the meeting where you'll sign the
paperwork and pay all the expenses to take ownership of your new home...
Underwriting
From Bankrate.com
Once your loan has been approved, the clock starts ticking to closing day. Much remains to be done
during those few weeks, and most of it occurs behind the scenes...
The good-faith estimate
From Bankrate.com
Your lender is required by the Federal Real Estate Settlement Procedures Act to provide you with a
good-faith estimate of the fees due at closing...
Inspection and insurance
From Bankrate.com
While the lender and third parties are preparing your loan for closing, there are a couple of things for you
to tackle. You probably will want to have the home inspected...
Close the loan
From Countrywide
The closing (or settlement) is the meeting at which you sign the paperwork and pay all expenses to take
official ownership of your home...
Understanding the closing process
From Bankrate.com
On closing day, all parties will sign the papers officially sealing the deal and ownership of the property will
be transferred to you. It's your opportunity to make...
10 Things You Shouldn't Do When You're Buying a Home
From About.com
Your home buying process is well underway. The sellers accepted your offer to purchase. The home is
officially under contract and you're counting down the days to closing. The lender pre-approved you, so
buying the house is a sure thing, right? Not quite....
Loan Types
From Countrywide
Found your dream home? Just need the right loan? Read the information here about the special features
of Countrywide's loan programs...
Necessary paperwork for a buyer
From Bankrate.com
Mortgage lenders may require proof of your assets, income, credit quality and other financial information.
Here are some documents you may want to gather...
Understand the loan process
From Countrywide
Once a home has been selected, the processing of the loan can take up to 40 days or more if you use a
traditional lender such as a bank...
Anticipate total costs
From Countrywide
At the start of the home buying process and particularly at closing (the meeting where you'll sign the
paperwork and pay all the expenses to take ownership of your new home...
Underwriting
From Bankrate.com
Once your loan has been approved, the clock starts ticking to closing day. Much remains to be done
during those few weeks, and most of it occurs behind the scenes...
The good-faith estimate
From Bankrate.com
Your lender is required by the Federal Real Estate Settlement Procedures Act to provide you with a
good-faith estimate of the fees due at closing...
Inspection and insurance
From Bankrate.com
While the lender and third parties are preparing your loan for closing, there are a couple of things for you
to tackle. You probably will want to have the home inspected...
Close the loan
From Countrywide
The closing (or settlement) is the meeting at which you sign the paperwork and pay all expenses to take
official ownership of your home...
Understanding the closing process
From Bankrate.com
On closing day, all parties will sign the papers officially sealing the deal and ownership of the property will
be transferred to you. It's your opportunity to make...
YOUR CLOSING
What you can expect on the day of final closing...