Home Closing: A 3-Step Guide to Settlement

Settlements for home closings should be simple, but sometimes things will go awry and make the proceedings drag out.

There are three key elements you can prepare yourself for with a home closing that will make the whole process go much more smoothly. Let’s take a look at how to get everything wrapped up nice and neatly.


You’re almost ready to get the keys to your new home!

1. Sign the Mortgage Documents

This is one of the most difficult parts of the house closing process, as you will need to sign and review as many as 20 documents. Don’t try to squeeze signing the mortgage documents in during your lunch break. These are the documents that indicate your borrowing of money and your guarantee that you are going to pay everything back. Some of the documents you will sign include: the note, name affidavit, truth-in-lending statement, monthly payment letter and an actual mortage document.

2. Complete Paperwork for Property Transfer

The following list includes many of the different paperwork and forms you and your title company reprehensive will review.

The Deed

This shows proof that the ownership of the home you are purchasing has been transferred to your name. This form should have the names of the seller and buyer, description of the property and will normally guarantee that the seller has the right to sell the property.

Proration Agreements

These forms and documents will discuss how the buyer and seller agree to split costs of the home in the month in which it will be bought. If the seller has already pair certain property taxes during the month of the sale, the buyer would generally reimburse the seller for a portion of the bill.

Other Paperwork for Home Closings

There will also be an insurance certificate, a bill of sale a HUD Form 1 or a Disclosure Settlement and acknowledgement of reports that will be included in the paperwork to review as well.

3. Transfer Payment

Of course, the final closings of a home settlement generally involve the payments. There will be closing costs, property payments and escrows to deal with, but after that, you are very close to having the keys to your new home. If you need help with your real estate transaction, working with an experienced title company helps make the process easier to handle.

Real Estate Settlement Services from Colony Title Associates

Colony Title has been in business since 1995 and handles more than 2,000 real estate closings per year. If you have any questions or would like to speak to a representative about closing, please give us a call at 410-884-1160 or visit our website for more information.

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