You may have searched through MLS listings for plenty of homes for sale and decided your dream home. You accepted the offer of the home seller, your home loan has also been accepted, you have carried out the home inspections and, now you are dying to step into your newly bought home. The last step in this real estate investment is the closing day, which you should not ignore.
Closing day is the day on which the legal transfer of your home is concluded. Sometimes on this day, many people are present like the lender, buyer, seller, closing or escrow officer, and a person from the title firm. According to your own preference and the rules in your state, you may have your lawyer at the closing. Nowadays the presence of the attorney is becoming important as he or she ensures that all the legal contracts are accurate.
At the beginning of the process, you have to present the Insurance receipt for the Homeowner. The settlement statement for HUD -1 will be reviewed by the closing agent. This would be done to make sure that the amounts agreed between the seller and the buyer is accurate. Then there are other considers like the Escrow Account, property tax, and much more.
