STEP 9: Preparing For Closing | First Time Home Buyer's Guide

STEP 9: Preparing For Closing | First Time Home Buyer's Guide

So you set your offer for the house of your dreams and it was accepted! Congratulations, you are now in the home stretch of your home buying journey. The final step is closing on your new home.

Now is the time to start preparing for this last step. Today, we are going to talk about what you need to do to get ready for closing.

Once your offer is accepted for the home that you want, now we play the waiting game. The waiting game is where we wait for the title work to come back clear and for the appraisal to come in at value. If your home is being financed through a bank, they will also order a home inspection. The inspection is just to make sure there are no major problems with the home that you were not aware of.

A few days after closing, you will receive a closing disclosure package from your lender. This document outlines all of the final details of your loan. It is important to review this package thoroughly and ask your lender any questions that you may have.

Once the closing day comes, you will need to bring a cashier's check or wire transfer for your down payment and closing costs. These funds must be readily available in order for the deal to close. Once all of these are done, it's time to sign your life away! All of the final paperwork will be signed at the closing table.

Congratulations, you are now a homeowner! I hope you enjoy our First-time Home Buyer's video series. If you have any questions or would like more information on the home buying process, please contact us. We would be happy to help you on your journey to homeownership!

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