It’s finally here! The wait to get into your new home is finally over. Loans have been approved, offers accepted and inspections performed. The only thing left to do is to put several of your John Hancock’s on a stack of legal documents. Is it really that simple though?

Closing day is pretty straightforward. This is the day where the legal transfer of the house is completed. Sometimes this can involve a great number of people. Those who will most likely be present are the buyer, seller, lender, escrow/closing officer and someone from the title company. Depending on your state’s rules and your own personal preference, you may also have your real buyers agent, lawyer, buyer’s agent, and servicer present at closing. Although not necessary, an attorney’s presence is becoming more common at closing to make sure legal contracts are interpreted correctly.

Once everyone is seated and introductions made, you will begin the closing process. The buyer will begin by presenting the Homeowner’s Insurance receipt. From there, the closing agent will review the HUD-1 settlement statement to make sure the agreed upon amounts between buyer and seller are correct. The closing costs checks from both parties will then be handed over to the agent.

Next, the closing agent will outline an Escrow Account for the buyer to cover property tax, homeowner’s insurance, interest, etc. The buyer will then sign all the documents required by the mortgage/lending company. The lender will then present the mortgage check to the closing agent.

Finally the anticipated time arrives; the buyer is presented with the Title to the property, which is signed by the seller. After all is said and done, the house keys are presented to the new owner of the home.

Here the author David Kent writes on the closing day of your home buying deal and what can be the procedures involved. Know more about www.buyersagent.net/why_use_buyer%27s_agent.html">Real Estate Agents, www.buyersagent.net">Buyers Agency, National Buyers Agent Association by visiting www.buyersagent.net

Article Source: http://www.therealarticles.com

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