Closing on Your New Home: The Final Steps to Home Ownership
From the Walkthrough to the Signatures
You trudged through dozens of open houses, found a great home, made an offer, had it inspected and got the loan approval. So you're ready to move in.
But you're not done yet. Understanding the final steps in the process will help you know what to expect, what to watch out for and what can go wrong at the last minute.
“The way it works, in general, is whatever you close on is what you get," says Julie, a real estate lawyer. “So I would always recommend immediately before a closing that a purchaser walk through and know exactly what they're buying."
In the My New Home: Closing on a Home videos, you'll learn what you need to know about the final steps in the home-buying process:
- How to do the final walkthrough once the seller moves out and you're about to have the closing
- What to expect at the closing: Who will be there and what they do
- How closing costs work, and what you'll be paying for
- What surprises can happen at the closing
- What to do when someone else outbids you
"My wife and I, we were so excited to get into our apartment that we weren't very meticulous in our final walkthrough," said Stefan, who discovered some needed repairs after closing. "If we had just asked the seller to take care of those things, it would have been on their dime. But because we'd already moved in, it became our responsibility."
Watch the My New Home: Closing on a Home videos to be better prepared for the final steps in the process.