FINALLY, THE FINALE

Closing time…

Your closing date has finally arrived! As exciting as it is, you shouldn’t have much to do. There are a few behind-the-scenes things to take care of, and once these loose ends are tied up, the Closer wires the funds to the title company. The title company records the Deeds with the County—this is the exact moment the ownership transfers over to you. The main thing left for you to do is pick up the keys to your new home. So kick back and let your lender and title company bring it on “home”. (sorry)

Wow.

This is the moment we all work for.

After signing, the title company holds onto all the money, but sends the papers back to us. The Closer handling your file reviews everything for accuracy and completeness.

We will work with the Closer and Underwriter to clear any loose ends of underwriting conditions. If we need your help with conditions, we’ll let you know, but typically these are behind-the-scenes things: one last call to verify you still have a job, proof that repairs are done and such.

Once these loose ends are tied up, the closer presses a big green button that says “FUND” and sends the loan funds over to the title company. (ok, there’s not really a big green button… but there should be.)

You just bought a house!

Although your loan funds travel from us to the title company electronically, it’s not instantaneous. There is a bit of a lag as the money makes its way through the Federal Reserve System. As soon as the funds resurface at title (usually early afternoon), someone at the title company presses a big red button that says “RECORD”, recording the Deeds with the County. (Okay, fine. There’s no red button either.) (But there really should be.) The moment those deeds are recorded ownership transfers from the seller to you. The property is officially, legally yours the moment the title company records the Deeds. Time to get you some keys!

The standard language in most sales agreements gives the buyer (that’s you!) possession of the property at 5pm the day of closing, but you may have made different arrangements with your seller. Check your contract for the details or just ask your Realtor.

Time to take Possession

The purchase of your new home is a Really Big Deal. We get that and are honored that you chose to work with us. The chance to play our role in the purchase of your new home—such a significant milestone—is a privilege. Thank you for the opportunity. We wish you all the best and hope your new home brings with it years of prosperity and happiness.

Congratulations!