Vanguard Properties
Kyla Brooke, Vanguard PropertiesPhone: (707) 481-0098
Email: [email protected]

Closing Day: What First-Time Homebuyers Need to Remember

by Kyla Brooke 09/22/2021

You've gotten an offer accepted on your first home. The appraisal and inspection came back fine. Now, all that's left to do is eagerly await your closing date. This is the day when you will sign all the paperwork that makes your first home purchase official! So, what should you expect as you prepare for this big day? While closing procedures can vary a bit from one real estate transaction to the next, there are some basic things you can expect on closing day.

What You Need to Bring

If you've been working with a real estate agent during your homebuying process, they should provide you with a detailed list of everything you'll need to have prepared for your closing date. Some common documents and items may include:

  • down payment and other fees (often as a cashier's check)
  • proof of insurance on the new property
  • government-issued identification (such as a driver's license or state ID)
  • closing paperwork

What to Expect

Most of your closing appointment will consist of you and the seller signing paperwork to legally transfer ownership of the property to you. The number of documents that you will be required to sign can overwhelm; it's helpful to understand a few of the crucial documents you'll be signing and their purpose. Some of the key documents you will review and sign on your closing date include:

  • a mortgage deed, which places a lien on your home as collateral for your mortgage.
  • a closing disclosure, which provides a list of charges and fees based on your contract.
  • a promissory note, which legally binds you to pay off your loan according to the terms.

At closing, you will also provide any payment that is due according to your disclosure; this may include the down payment on the property, any closing costs and legal fees as well. Unless otherwise agreed upon, you will receive the keys to your property and assume ownership as soon as closing is completed.

How Long Does it Take?

As long as everybody comes prepared, your closing appointment should be done within an hour. However, some more complex situations may take longer. Your agent should be able to give you a better feel for how long you can expect to be at the closing table. From there, it's time to celebrate your newfound homeownership! 


 

About the Author
Author

Kyla Brooke

Since 2005, I have been helping clients find dream homes and investment properties in the Russian River area of Sonoma County. I am also serious about affordable housing, and understand the issues related to life transitions. With Russian River Home Sales my intention is to reach out to those who wish to achieve their dream — of buying or selling a home — in the Sonoma County area.

My life’s work is about making sure that you can have the greatest quality of life possible. I am here to provide you with the professionalism and integrity needed to ensure that you feel secure in what can be a big decision in your life.

I’ve helped individuals; families, couples and investors sell and purchase properties in Sonoma County for years. Whether you’re buying, selling, investing or just doing research, you’ll need an agent who understands technology, integrity and teamwork. More importantly, you’ll want an agent who understands you and your goals. I combine this with the area’s unique market-knowledge. I have excellent negotiating skills. This enables me to team with you to get you the optimal price for any property you plan to sell or buy. 

Please feel free to use my website as a resource for all your Russian River and Wine County real estate needs. If you have any additional questions, don’t hesitate to contact me today. As a top agent in a unique market, I look forward to working with you.