The closing process is quite simple, but it can be a bit nerve-racking. The only thing standing between you and your new house door is the closing documents that need to be checked and signed. If you are worried, don’t be as we are about to share with you everything you need to know about the closing process.
The closing process is divided into 4 steps, each of which is equally important. These steps come after you have received the loan approval. Once you have the letter in your hand, you can walk up to any seller and present yourself as a serious buyer. Without it, most sellers assume that you are just passing time and are a window shopper.
Let’s have a look at the four steps that you need to know about in the closing process:
1. Making the Deal Official
First, the borrower and lender meet in front of the notary public. Here, the authorized person certifies the deed and contracts, as well as other legal documents. Once the documents are signed, the notary public signs and stamps the documents, which provides certification. Now, the loan application can be forwarded and sent to the concerned department. At this point, you have to make sure that your credit report attached with the documents is clear without any negative markings. This will determine whether your application will be approved for the home for sale in Sandy Springs, GA, or not.
2. Paying the Cash
At this step, the meeting with the lender is all about the down payment. Ask the lender what form of payment they prefer. In most cases, cash is preferred for easy transaction.
3. Review the Documents
Never sign any document in the home buying process until you have read every line. This goes especially for the loan documents! Make sure that every clause mentioned is accurate. Also, check the loan terms and interest rates. Real estate fraud has become common, where the lender runs away with the down payment, has become common so beware. If you find any discrepancies in the document of the home for sale in Sandy Springs, GA, make the changes then and there so that all the parties involved know what is happening.
4. Sign Here
Now that everything is in order, sign on the line and the house is yours! If you made the right choice and are comfortable with it, then you will have no problem in signing the documents.
It’s time to pop the champagne and think about how you will decorate the house because you are finally a homeowner. Plus, you have to plan your house-warming party to show off your new house to your friends and family.
When shopping for a home for sale in Sandy Springs, GA, keep two things in mind: always inquire about the house and the owner from the neighbors and ask for lender references from the seller. If you want to find quality listings, then visit America’s Network Realty Group Inc. Enter just a few details on the type of house you are looking for and the database will provide you with hundreds of listings.