You have put months of effort into finding your first home. You looked at dozens of possibilities, examined the budget endlessly and finally found the ideal property. You made an offer and the seller accepted. Now what?
In South Carolina, buyers retain a legal professional to conduct title research of the property and discuss title insurance. Your representative will also work with lenders to prepare the documents you will need at closing, including the deed. Here is what you can expect when it is time for the sale to close.
What will I need at closing?
At this point in the process, professionals have conducted appraisals and inspections, and you have resolved any resulting issues. From here, the process is really quite simple. Set aside an hour or more for the appointment. Bring a valid driver’s license and a certified check. You may wire funds if you prefer not to bother with a paper check, but you should coordinate this prior to your appointment. If you cannot be present at closing, you should make other arrangements.
Can anything go wrong at closing?
Doing all the necessary work ahead of time should mean that there are no surprises at closing. Lenders have their own procedures for releasing funds, so each closing appointment is different. There may also be a delay if you chose to wire funds rather than use a check, and the transfer is slow to transpire. The most favorable way to ensure a smooth closing is to have an experienced professional review all documents before signing. Never sign your name to anything you do not fully understand.
When do I actually own the home?
As soon as you have signed the contracts, the money has changed hands and the paperwork is complete, you should be the official owner of the home. In many cases, the closing appointment is when you take possession of the keys. Then you can head to your new home and celebrate.