What Happens at Closing?
When you’re looking at Port Aransas homes for sale, the final step—closing—is never far from your mind. That’s the big day; the day you’ll get the keys to your next home.
But what, exactly, happens at closing?
Your Realtor® will be there with you, and so will a handful of other people.
Here’s the breakdown of what happens.
What Happens at Closing?
The day you sign the final paperwork that outlines your ownership of the home you’re buying is called closing day. You’ll sit at the closing table (it’s really just a table where we close real estate transactions) and sign your name to dozens of documents.
There will be plenty of documents for you to sign, too. You’ll have financial documents, disclosures, title agreements… you name it, and you’re signing it on closing day.
What Happens After You Sign All the Papers?
After you sign all the paperwork your Realtor puts in front of you, those documents need to go to your lender. Typically, whomever is in charge on closing day will handle faxing or scanning these documents to your lender (and the seller’s lender, if there is one).
In many cases, your signature is required on all these documents before your lender will actually fund the loan and give the seller his or her money. In some cases, the funds are already waiting and the lender just needs a final confirmation that everything went through according to plan.
After everyone has all the documentation they need, your loan is funded… and you’re a homeowner.
Are You Buying a Home or Condo in Port Aransas?
Call us at 361-563-7788 or get in touch with us online to tell us what you want from your next home. We’ll begin searching right away.
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