After all of the work you have put into finding your next house and negotiating with the seller, you may find yourself a little short on energy by the time closing rolls around. To help you power through the last step of your home buying process with ease, here is a quick overview of your to-dos.
- Get The Sales Contract: Either your real estate agent or attorney will write the sales contract, which should lay out the term of the transaction, including what personal property is included, the closing date, who is paying for which cost, and financing arrangements. Make sure your sales contract is clear and has no blank spaces.
- Remove Contingencies: Your contract will probably come with some contingencies—such as appraisals and inspections—that need to happen before the sale can be completed. Once those tasks are finished, sign a document with your seller to remove them from the contract.
- Compare Costs: When your sale is being finalized, you will receive a HUD-1 Settlement Statement of mortgage and closing costs. Compare it to the good faith estimate you received earlier. If there are notable discrepancies, dispute them.
- Take Titles: When you get the final title report, ensure that it is clear. Once that is verified, work with your escrow agent to take title of the property. Your title options will include joint tenancy, tenants by entirety, sole property, and more. Make sure you take title in the way that best reflects your situation.
Closing can be easy if you work with experts who guide you through the process. For dedicated service, contact Brighton Escrow. We are here to serve home buyers in Hermosa Beach with our practiced and professional escrow services. For all of your California escrow needs, we are here!