Preparing to Close
Before you close on the property, you’ll take a final walkthrough to ensure everything is as it should be. If fixes were stipulated in the contract, this is the time to give them the final look-over. If everything looks good, it’s time to close!
‘Closing’ means you’re finalizing the financial details of your mortgage transaction. These days, it’s not necessary to do this in an attorney’s office or anywhere specific, as traveling notaries are quite common and will come to you. You’ll sign the paperwork and ensure all your necessary documents have been received. The three main items to be reviewed during closing are the deed of trust, the promissory note, and the closing disclosure. After this is done, your lender will finalize the mortgage.