What to Expect at Closing: Final Steps Before You Get the Keys to Your New Home in Sherman, TX

Closing day is the exciting final step of the home-buying process, where you officially become the owner of your new home in Sherman, TX. However, before you get the keys, there are several important steps that must be completed. Understanding what to expect at closing will help you feel more confident and prepared as you move through this final stage. Here’s what you can expect during closing day in Sherman, TX.

1. Review the Closing Disclosure

A few days before closing, you’ll receive a Closing Disclosure (CD), which is a detailed document that outlines the terms of your mortgage, final loan amounts, and the total cost of the purchase. It’s essential to review this document carefully before closing day.

• Confirm accuracy: Double-check that the information on the CD is accurate, including the loan amount, interest rate, monthly payments, and closing costs.

• Clarify fees: The CD will include various fees, such as origination fees, appraisal fees, and title insurance costs. Make sure you understand what each fee is for and address any discrepancies with your lender before closing.

2. Final Walkthrough of the Property

Before signing the closing documents, you’ll have the opportunity to do a final walkthrough of the property. This is your last chance to ensure that everything is in the condition you expect.

• Check for repairs: If the seller agreed to make repairs based on the inspection, ensure that these have been completed to your satisfaction.

• Verify no changes: Make sure nothing has been removed from the property or damaged between the inspection and the final walkthrough. If there are any issues, you may need to renegotiate or delay closing.

3. Prepare for Closing Costs

At closing, you’ll need to pay your closing costs, which typically range from 2% to 5% of the purchase price of the home. These costs cover various fees related to the transaction, such as loan origination fees, title insurance, and appraisal fees.

• Bring the right funds: Your lender will provide you with the exact amount you need to bring to closing, and it will likely need to be in the form of a cashier’s check or a wire transfer.

• Funds at closing: In addition to closing costs, you’ll also need to pay your down payment (if you haven’t already paid it as part of the offer).

4. Sign the Closing Documents

On closing day, you’ll meet with the seller (or their representative) and the closing agent to sign the closing documents. This is a crucial part of the process, as these documents legally transfer the property to you.

• Mortgage documents: You’ll sign the mortgage agreement, agreeing to the terms of your loan. These documents outline your payment schedule and responsibilities.

• Title and ownership transfer: The closing agent will also provide documents transferring the title of the property to you. You’ll sign these documents to officially become the owner of the home.

5. Review the Title and Ownership Documents

During the closing process, the title company or closing agent will also ensure that the title to the property is clear and free of any issues that could affect your ownership.

• Title search: The title company will have already conducted a title search to make sure the seller has the legal right to sell the property and that there are no unresolved claims or liens.

• Title insurance: As a buyer, you may be required to purchase title insurance to protect yourself from any future issues with the title.

6. Receive the Keys to Your New Home

Once all the paperwork is signed, the funds are exchanged, and everything is finalized, it’s time to get the keys to your new home! This is the moment you’ve been waiting for, and it’s time to celebrate.

• Key handoff: The seller or closing agent will hand you the keys, garage door openers, and any other access devices to your new property. You can now officially move in!

• Congratulations: Congratulations! You’re now the proud owner of a home in Sherman, TX. Take a moment to enjoy this exciting milestone.

Conclusion: Closing Day in Sherman, TX

Closing day is the final step before you get to enjoy your new home in Sherman, TX. By understanding what to expect, you can approach this day with confidence. Review the documents carefully, pay attention to the details, and don’t forget to celebrate when you finally get the keys to your new home!

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About us: Professional Sherman Relocation & Real Estate Services.

As a top Sherman Real Estate Professional, I understand the challenges that arise from a Relocation. I work with families including physicians who are relocating to Dallas metro area including cities like Sherman. I have earned a number of real estate certifications and designations in an effort to learn and provide excellent customer service to my clients. As a CRS, ABR & GRI, I can offer my clients experience as an Agent and REALTOR®, top Industry Customer Service, in-depth, up-to-the-minute and comprehensive market knowledge; honesty, integrity, dedication, and professionalism in my business.

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What is most important to you in your new city? With a little bit more info about what you’re looking for in a new city, we can help you determine whether or not Dallas would be a good fit. Send us an email at info@NitinGuptaDFW.com, fill out our Relocation Questionnaire, or give us a call at (469) 269-6541 to schedule a no obligation consultation. We’ll give you honest advice about Dallas that you can use to help make your relocation decision. In the meantime, check out our Guide to Relocating to Dallas.