{"id":3795,"date":"2016-10-26T15:15:39","date_gmt":"2016-10-26T22:15:39","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=3795"},"modified":"2016-10-24T20:27:01","modified_gmt":"2016-10-25T03:27:01","slug":"everything-you-need-to-know-about-closing-on-your-home","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/10\/everything-you-need-to-know-about-closing-on-your-home\/","title":{"rendered":"Everything You Need to Know About Closing on Your Home"},"content":{"rendered":"<p style=\"text-align: justify;\">If it\u2019s your first time buying a home, the process of closing the transaction is likely foreign to you. You may even be slightly intimidated: after all, buying this home is a decision that will greatly influence the next several years of your life. Here\u2019s everything you need to know about the process of closing on your home.<\/p>\n<p style=\"text-align: justify;\"><strong>Part 1 \u2013 Closing Attendants<\/strong><br \/>\nThe closing typically includes the homebuyer, seller, their respective agents, and the settlement agent. Appearances may be made by your mortgage broker, lender, escrow agent, lawyer, and possibly even a title insurance company representative, who are all there to ensure that everything goes smoothly with documentation.<\/p>\n<p style=\"text-align: justify;\"><strong>Part 2 \u2013 Closing Events<\/strong><br \/>\nThis is when your name is added to the title deed, and the keys are given to you. The closing will typically take an hour or two, but can vary depending on the deal\u2019s complexity. Date and time scheduling will be relative to convenience for all involved parties. The procedures and protocol for closing depend on the area, but the location will be either an attorney\u2019s office, escrow company, or title company.<\/p>\n<p style=\"text-align: justify;\"><strong>Part 3 \u2013 Closing Preparations<\/strong><br \/>\nFirst, make sure you\u2019ve scheduled the closing within the lender\u2019s established commitment period, in order to avoid any problems. If you\u2019re currently renting, inform your landlord that you\u2019ll be moving out. Be sure to have the home inspected again, and make sure that any fixes are made before the home becomes yours.<br \/>\nThis is a good time to invest in homeowner\u2019s insurance and title insurance. The latter insures protection against title defects and future claims made to the property by a third party. The last thing you want is to settle into your new home and find out that you have to deal with circumstances involving the prior owner. Title insurance companies, such as TitleSmart, exist so that sufficient coverage can be achieved while remaining cost effective.<\/p>\n<p style=\"text-align: justify;\"><strong>The Closing Process \u2013 In Summary<\/strong><br \/>\nOverall, real estate closings vary but all adhere to the same procedure: you will meet with the seller and respective agents, who will watch you sign the legal documents that finalize the deal. All final questions get asked and answered, the remainder of the paperwork will be exchanged, and you\u2019ll finally receive the keys. There are a few preparations to be made before the closing, but if you\u2019ve done your due diligence, there will be nothing to fear.<\/p>\n<p><a href=\"http:\/\/realtybiznews.com\/first-time-homebuyers-everything-you-need-to-know-about-closing-on-your-home\/98735640\/\" target=\"_blank\">First Time Homebuyers : Everything You Need to Know About Closing on Your Home<\/a> by Lizzie Weakley | Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If it\u2019s your first time buying a home, the process of closing the transaction is likely foreign to you. You may even be slightly intimidated: after all, buying this home &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/10\/everything-you-need-to-know-about-closing-on-your-home\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-3795","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Everything You Need to Know About Closing on Your Home &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/10\/everything-you-need-to-know-about-closing-on-your-home\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Everything You Need to Know About Closing on Your Home &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"If it\u2019s your first time buying a home, the process of closing the transaction is likely foreign to you. You may even be slightly intimidated: after all, buying this home &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/10\\\/everything-you-need-to-know-about-closing-on-your-home\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/10\\\/everything-you-need-to-know-about-closing-on-your-home\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Everything You Need to Know About Closing on Your Home\",\"datePublished\":\"2016-10-26T22:15:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/10\\\/everything-you-need-to-know-about-closing-on-your-home\\\/\"},\"wordCount\":435,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/10\\\/everything-you-need-to-know-about-closing-on-your-home\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/10\\\/everything-you-need-to-know-about-closing-on-your-home\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/10\\\/everything-you-need-to-know-about-closing-on-your-home\\\/\",\"name\":\"Everything You Need to Know About Closing on Your Home &#8226; 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