Closing 101

Closing 101

Closing day marks the end of your home-buying process and the beginning of a new chapter in your life!

How to Prepare for Closing
To make sure your closing goes smoothly, you should bring the following to the title company:

• A certified check for closing costs and down payment. Make the check payable to yourself; you will then endorse it to the title company at closing.
• An insurance binder and paid receipt
• Photo identification
• Social Security numbers
• Addresses for the past 10 years

Owning the Home
The transfer of the title moves ownership of the property from the seller to you. There are two events that make this happen:

Delivery of the Buyer’s Funds
This is the check or electronic transfer provided by your lender in the amount of the loan.

Delivery of the Deed
A deed is the document that transfers the ownership of real estate. The deed names the seller and buyer, gives a legal description of the property, and contains the notarized signatures of the seller and witnesses.

At the end of closing, the deed will be taken and recorded at the county clerk’s office. It will be sent to you after processing.