You’ve purchased a beautiful new home in Cypress Green, chosen the interior design and watched as it was being built. It’s time to close, to officially become the owner of your new home. If this is your first home purchase, the process can seem overwhelming. Knowing what to expect at closing can help ease your nerves and ensure a smooth transition into homeownership. Here’s what to expect.

What is ‘Closing?’

Closing is the day you sign the documents that finalize your purchase of your new home. A move-in ready home will typically close in 30 to 60 days. A home being built from the ground up will take longer as your builder will not set the closing wheels in motion until construction is complete. That normally takes six to nine months.

What Happens Before Closing Day?

A lot happens before the day you close on your new home. During the 30 to 60 days before closing, you must secure your loan, have your home appraised, wait for the title search, purchase homeowner’s insurance, order a home inspection and follow up on paperwork. A Realtor can help you navigate this process, so consider obtaining one.

Where Do I Go?

As the seller, your builder will set a day and time to close. This typically takes place at a title company, attorney’s office or even virtually. You, your builder’s representative, your real estate agent if you have one, a representative from the title company and possibly a lender’s representative will be present to complete the process.

What Paperwork?

Before you close, you’ll receive a Closing Disclosure, which outlines the final terms of your loan and the costs associated with your home purchase. Review this to ensure accuracy. If you have any questions, now is the time to ask. On closing day, you will be signing a lot of legal documents, including the promissory note, mortgage agreement and the deed of trust. Don’t be afraid to ask for clarification before signing.

Do I Need to Bring Anything?

You will need to bring some documents of your own. As a notary will be present, you will need a government-issued ID (such as a driver’s license or passport). If there is outstanding paperwork on your end, you will need to bring that. These documents may include proof of homeowner’s insurance, a copy of the purchase agreement and a means of payment for your closing costs and down payment.

What About the Down Payment and Closing Costs?

Both the down payment and any closing costs are due at this time. These costs can include lender fees, title fees, property taxes and prepaid interest. The builder will let you know their preferred method of payment. Typically, this is a cashier’s check, but you might be able to transfer the money online.

What is Title Transference?

Before closing, your title company will have verified that your home has a clear title, free from any liens or legal disputes. On closing day, they will transfer the title to you.

What About the Deed?

Once you have signed the paperwork and paid your closing costs, the deed and other relevant documents will be recorded in the county’s public records office. This step officially transfers ownership of the property to you.

What About the Keys?

After the closing process is complete, you’ll receive the keys to your new home. Congratulations, you’re officially a homeowner!

Close On Your Cypress Green Home

Now that you understand what to expect, it’s time to purchase your new home in Cypress Green. Visit our model homes and get started on the journey to homeownership today.