First time homebuyers: How does the closing process work?

 

If you are searching for a house for sale in Delaware, finding the right one is no easy task. Out of all of the homes for sale in Milton, Delaware, you might have been taking your time in finding the perfect one for you. Once you find that home, you might be wondering what happens next?  This article will help you understand how the closing process works and what you can expect.

 

 

Walk Through and Paperwork

Once you have found your new home in Delaware, the first thing to do is to gather all of the important documents and paperwork that you have received throughout the home buying process. This could include your contract, title, insurance, loan estimate, appraisal and inspection reports to name a few. You will need these documents with you at the closing in case you need to refer to them at any point. Next you are allowed time to do a final walkthrough of your new home within 24 hours of closing. Some things you want to be sure to inspect is whether or not the house is in the condition that you previously agreed upon and making sure any problems or repairs were completed in an acceptable manner. Be sure to speak up if you are not satisfied with the condition of the home prior to the closing so the concerns can be addressed.

 

Closing Day

During your closing meeting, you can expect to meet many people who will be helping you through the process for purchasing your new home in Delaware. Some of these parties could include the closing agent, an attorney, the home seller or company selling the home, title company agent, and the mortgage lender to name a few. The closing agent is the person responsible for making sure that all documents are properly signed and all payments are made. Some of the tasks you will complete at your closing meeting will include signing all necessary paperwork and documents, including your lending agreement detailing your mortgage and the paperwork detailing your agreement between yourself and the seller. As with any important documents, be sure to carefully read the documents to insure your understanding and ask questions if you need to, you should be completely confident in what you are signing. You will also be paying all of your closing costs during your closing meeting. Be prepared with the necessary paperwork for this task, and again, ask questions and read what you are signing.

 

LC Homes has a variety of homes for sale in the Milton, Delaware areas that are just what you are looking for! Now that you know how the closing process works, contact LC Homes to find your perfect home today!

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