How to Buy a House - Closing the Deal

Take a deep breath. All the work you (and your agent) have done over the past weeks is about to result in the keys to your home.

The sales contract prepared by you and your agent has been signed, initialed and dated. Your formal loan application has been approved. The performance dates in the contract have been met. Home inspection and any other inspections that you feel were necessary, have been done. A time for closing and the place of closing has been scheduled.

Just before closing, the final walk through of the house will take place. If there were repairs noted in the contract as needing to be done, now is the time to see if they have been accomplished.  If they haven't, the seller (having agreed to the repairs, of course) must get this done.

So, now we are at the closing table. Once all the necessary documents have been signed by all parties involved, and you have handed over your check, you will be the owner of your new home. A word of caution. Until the deed is recorded for your new home, it is not actually yours. Normally, this is done the same day as closing, so the earlier you can schedule that time, the better.

Congratulations, homeowner!