Closing – Getting the Keys 

Congratulations! It’s closing day. A day filled with emotion and trepidation. You’re waiting for that final moment when you sign the paperwork and that 3/2 beauty by the cute coffee shop is finally yours.

And I’ll just say this here because it bears repeating: DO NOT BUY NEW FURNITURE (or a new car, or an Armani suit or Gucci bag or anything that you have to make payments on) UNTIL YOU’VE SIGNED THE FINAL DOCUMENTS AND THE HOUSE IS OFFICIALLY YOURS BECAUSE THIS WILL THROW OFF YOUR DEBT-TO-INCOME RATIO AND MAY DISQUALIFY YOU FOR THE LOAN.

Don’t do it.

Don’t do it.

Don’t do it.

There, we talked about this.

Now, here’s a couple things to expect at the closing.

What you have to bring with you:

• Two (2) forms of identification (Drivers Liscece, Social Security Card, Government ID, Passport, Military ID, Property Tax Bill, Voter Registration, Birth Certificate, most recent W-2 or utility bill. Anything with your name on it.)
• Wired or Certified funds
• Checkbook (just in case the final amount is different than the estimate)

What documents you’ll be required to sign.

• NOTE: This document provides information about your loan (term of loan, payments, interest rate, prepayment penalties, etc.) It is this document that creates the obligation for the loan debt. 
• SECURITY DEED: This document is recorded at the county courthouse and transfers to the lender legal title to the subject property until the loan is refinanced or otherwise satisfied. 
• WAIVER OF BORROWER’S RIGHTS: This document puts the borrower on notice that in the event of foreclosure there is not a court hearing in the State of Georgia. 
• TRUTH IN LENDING DISCLOSURE: This document is required by federal law and discloses all lender required costs for the loan, the annual percentage rate, whether there is a prepayment penalty, etc. 
• LENDER DOCUMENTS: Each lender has its own set of additional documents such as affidavit of occupancy, name verification and flood certification. 

And with a stroke of a pen, that home is yours.

And that’s it folks! That’s the home buying process in a nutshell. I hope you’ve enjoyed reading this series as much as I’ve enjoyed making it. I hope I was able to fill you in a little bit about the Home Buying Process, and the ups and downs and twists and turns and what that entails. If you or anyone you know is in the market for real estate, you now have someone you can recommend. Thank you for stopping by my little corner of the internet and taking the time to read these posts 

Until next time.

Write to ya later,

Sarah King

The Curly Realtor 

A special thank you to Raymer Law Group. The document portion of this post is from their Road Map to a Smooth Closing, which you can obtain here