Southern AZ Homes - Buyers Closing Process
You put an offer on the house, now what? Although, no real estate transaction is ever the same here is a step by step process of what you will need to do and can expect during the closing process. As your agent, I will guide you along the way and address, resolve, and negotiate any issues that may arise during the process.
STEP BY STEP GUIDE
ü Escrow will be opened at a Title Company along with your purchase contract and earnest check.
ü Title Company begins reviewing the title and a prelim report will be issued and mailed out and/or emailed to all parties.
ü Mortgage issues are addressed with buyer and appraisal is ordered by lender.
ü During the inspection period, the property is inspected by a home inspector (buyer should be present); termite inspector, and a septic certification if applicable will be made.
ü Hazard insurance is obtained for home during the inspection period.
ü A mail box (if applicable) is reserved with the US Postal Service, including change of address for forwarding mail.
ü Arrangement of services with utility companies is prepared.
ü A final walk-thru will be conducted at the property.
ü The HUD-1 statement is prepared and reviewed by all parties before closing.
ü Day of closing, bring in necessary funds (cashiers check), sign loan documents.
ü Loan documents are reviewed by lender and funds released.
ü The purchase of property is recorded and changed into your name.
ü Once property is recorded you receive your keys!
Many homebuyers are perplexed by the details involved in buying a house, especially the closing process. Just what is a “closing,” or “escrow,” or “title insurance,” or a “survey”? LandAmerica’s innovative consumer website – KnowYourClosing.com – helps to clarify the closing process. The site, developed by LandAmerica as a service for consumers, provides information in easy-to-understand language, using a question-and-answer format and brief descriptions.
Site visitors will find a step-by-step description of what to expect on closing day, what title insurance is and why it’s important, the role of a settlement agent, and other helpful information explained in easy-to-understand statements. In addition to a glossary of terms, the website contains links to a wide variety of other helpful sites.
- Know Your Closing Step-by-Step Discription
Everything you will need to know about the closing process.
TIME IS OF THE ESSENCE
There are several timelines that will need to be met during the closing process in effort to have a success purchase. As your agent, one of my responsibilities will be to make sure that all due dates are met by all parties. As a Buyer, you will be assigned tasks and errands that will need to be met for those due dates. Whether, you prefer to use the telephone or go on-line the following contact list and web site link(s) will help you meet your goals.
- Closing Process Essentials
Contact list and web site links to help you during the closing process.
Site Map | E-Mail
Agave Premier Properties & Investments
1891 North Mastick Way, Ste. A • Nogales, AZ 85621
AGAVE PREMIER Properties & Investments • Phone: 520.313.0352
Office (520) 281-4888 · Fax: (520) 761-3307
Mobile (520) 313-0352 · Email: ypalmer@q.com
Toll Free 1- 866-746-5814
