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You will have peace of mind
WHEN this long, tedious process is complete and you can begin to enjoy
your new purchase. |
Now that you've decided to buy a home, what happens between now and the time you can become its legal owner? Buying your home is a difficult decision. There is a mountain of paperwork that needs completion. First there is your loan application. You have to complete the paperwork and it has to be approved. This approval process includes an appraisal and survey of the property and will include a close look at your credit history. Legal documents will now be drawn up for both the buyer and seller to sign. A Mortgage will be prepared as well as a note and a new deed. A title search will be made to be sure the seller is the owner and that no liens or debts are pending or exist against the property you are purchasing. After all these procedures
are completed, the closing will be arranged. A new deed will be signed
by the seller and you will sign the mortgage and note to the lender. At this
time, everyone involved will be paid for their work on this purchase
including the title company, and attorneys, the seller, a real estate
agent and anyone else involved. Title Insurance policies are then issued
to both you and the lender. |
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