The day before or day of closing you will complete a final walk-through of the house with your Realtor to ensure the home remains in the same condition as the time of inspection. If the seller previously agreed to make any repairs, you would ensure they are completed at this time.
Closing will typically take place at a title company office. In the state of Colorado, buyers and sellers will often go to closing at the same time. The closing agent (a representative of the title company) sits at the head of the table, the sellers and their agent sit on one side of the table and the buyers, their agent, and lender sit on the other side of the table. The closing agent will facilitate the closing, by explaining all the documents and making sure that everyone signs and initials on the appropriate pages.
To closing you will need to bring two forms of ID and your cashier’s check for the total amount due.
Once the loan documents and real estate documents are signed, the lender wires the funds and the transaction is complete!
Possession of your new home!
Possession times vary depending on occupancy of the property. The transfer of possession takes place as agreed upon between the buyer and seller. If the property is vacant, transfer of possession typically occurs at closing, immediately after completion of the fund transfers.
Now that you hold keys to your new home, it’s time to celebrate all your hard work and patience. Most of all, you achieved your goal of homeownership!
Now you have arrived at the funpart, moving in and making your new house or condo, home. Remember to change your mailing address!