You made it to the end of the new home buying timeline. After months of searching, budgeting, and plenty of planning and prep work, it’s time to deliver your down payment, take a walkthrough of your brand-new home, sign the paperwork and get the keys. The home closing process can be tricky, but it is also one of the most exciting parts, as you are one step closer to moving into your new home. Here are 3 steps you should follow to ensure the process is smooth:
By now, your lender should have all the information they need, with the exception of a few items. Here’s what to bring to the closing appointment:
• U.S. government photo ID, driver’s license or passport
• Proof of homeowners insurance
• Your down payment (you can set up a wire transfer ahead of time or bring another approved method of payment).
• All borrowers who may be listed on the contract, including co-borrowers or co-signers
• Any other documents requested by your lender or the closing agent
Plan to spend approximately an hour and a half signing your closing documents. There are a lot, but don't worry—your closing agent will walk you through everything and explain as you go. Before signing each page, remember to double-check:
• All personal information, including social security numbers and birth dates
• Loan information, including the final cost, down payment and interest rate
• Home information, including address and square footage
• Payment terms, due dates and late fees
• Your understanding of what you’re signing and what contract terms you’re bound to
When you return home, be sure to place these documents in a safe place, because you may need to reference them again for any home warranty information or loan questions.
Congratulations! You are now a new homeowner. Most of the time, you will receive the keys to your house immediately. However, sometimes, you may have to go pick up the keys, or they may be delivered to you within a day or two of signing. Either way, once you have the keys, all that's left to do is move in and enjoy your new home.
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The foregoing information is provided solely for general information purposes and is not intended in any way as financial, securities, insurance, tax, or legal advice or services. Each potential homebuyer may have unique financial and other considerations that may be important to any home buying, financing or related decision. Accordingly, Meritage does not assume any duty or liability in providing the foregoing information and expressly disclaims all representations and warranties of any kind, either express or implied, with respect to such information. Potential homebuyers that desire additional information or guidance tailored to their specific situation should contact a relevant professional. Location information obtained from public sources and believed to be correct, but Meritage makes no representation or warranty with respect thereto.