Closing on a home can be one of the most exciting and nerve-wracking experiences all at the same time. That’s because you can’t wait to officially become a homeowner but you also have to go through a lot of steps to make that happen. You have to pay for closing costs, gather important documents and sign loads of paperwork. Luckily, you don’t have to do it alone. A real estate closing ponte vedra attorney has the professional expertise and experience to guide you through the closing process.
What to Expect From a Real Estate Closing
The closing process begins as soon as the seller accepts your offer. In most cases, the seller will put your earnest money check into an escrow account. After that, you have to set up a home inspection to look for minor or major problems with the house such as non-working appliances or elements that might violate local building codes. Then, you submit pertinent documents to your lender. This marks the beginning of the long and often expensive process of underwriting. Your lender will go over the terms of your loan and commission an appraisal to determine the value of your desired home
From there, you’ll get homeowners and title insurance. If everything goes well, your lender will approve the loan, which can take a month or longer. This is pretty much the last puzzle piece to the closing process. Once that’s settled, closing begins, at which you’ll bring yourself, your ID and payment. After the seller turns over the deed, the house is officially yours.
Closing on a home can be both expensive and stressful for homeowners, but it’s a necessary part of the homebuying process. Having a knowledgable real estate lawyer can help you understand the often complex legal documents and make more informed decisions during closing.