Close On Your Home
Depending on where you live, “closing” on a home goes by different names. In many states, it’s simply known as “closing”. In other states, notably California, closing is often referred to as “going to escrow”. Closing is also known as “settlement”.
Regardless of what you call it, however, closing is the last step prior to getting the keys to your new home. It’s the legal process by which ownership of a home moves from one person to another, in the form of a deed. Closing is a relatively simple process. In advance, all of the necessary paperwork for signature will have been delivered by your lender, and your final Settlement Statement — called the CD (closing disclosure) will mirror the preliminary settlement statement which was sent to you in advance.
Cloing is just the formality of “sealing the deal”. The down payment is supplied to the title company in a form of cashier’s check, or funds can be wired in advance to the title company prior to actual closing date. Most times, the seller will sign their documents at a different time on closing day, from the buyer(s). It is customary that your real estate agent be there at closing, as may your lender.
For more education about CLOSING, Enroll in TURBO UNIVERSITY COURSE 14- E-CLOSING
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