Very few first time homebuyers understand the home closing process initially. After all, this is the last step after most of the “action” has taken place. The offer has been made and accepted, the moving boxes are loaded onto the truck and everyone is ready to go. So just what is the home closing and what does it involve?
The true gist of closing is pretty basic: the buyer gives the seller the money for the home and the seller transfers the deed of ownership to the buyer. However, as most people usually buy and sell around the same time, and most people have mortgages on their homes, the process can get complicated. Often people have two closings back to back: a closing for the sale of their own home and a closing for the purchase of a new home. Additionally, the buyers usually have a final walk through of the property prior to closing.
The main memory most people have about their closing experience is the amount of paperwork involved. There are several documents required at closing, and you should ask for copies in advance of any that are available. Otherwise, expect to take some time to read through things carefully. Human error is always possible and has been known to happen on closing day.
The closing process itself should run smoothly, especially with an experienced real estate agent on your side. Your agent will walk you through all the proper documentation and steps that take place before the closing, as well as answer any questions you may have about the process.
Are you looking for a Nashville home or real estate agent? Call us today at DeSelms Real Estate 615-567-5507. You can also search available listings here.