In order to take the mystery out of the closing process for buyers, here are some basics on the process:
- You do a walk-through the day before or morning of the closing to ensure the house is in the same general condition as when the offer was made and things are left that were supposed to be there (e.g. appliances).
- Your lender hires a closing agent who creates a statement outlining the loan amount, loan costs, recording fees, title insurance premiums, escrows for insurance & taxes, state transfer tax, tax prorations, and the deposit. This will show how much money you will need to bring to close.
- You are charged for any oil/propane/firewood/pellets left. This may be put on the closing statement or paid by check to sellers.
- Be prepared to sign lots of paperwork at the actual closing! The funds you bring should be on a bank check or previously wired to the closing agent.
Your agent will help you through this process, but knowing what to expect can alleviate many concerns. Give me a call if you want an experienced Realtor helping you! 603-526-4116, www.DonnaForest.com, Donna@DonnaForest.com
You’ll be moving in the right direction with Better Homes & Gardens Real Estate - The Milestone Team.