I am signing my closing documents on my new home in the next couple days, what should I expect?
Answer:
you were given a good faith estimate or should have been by federal law..ask someone to explain, line by line, all expenses..NOT your realtor..unless it's someone you trust explicitly...ideally a non biased 3rd party with the knowledge to explain..this may in itself reveal unsavory expenses..several entries may sound very formal but not required and exist strictly to cost you more money.directly into someone's pocket. After you feel comfortable with the line item costs, at closing compare the closing settlement statement with the GFE for discrepancies. Number one rule!! do not allow yourself to be pressured! Ask, no DEMAND, the closing settlement statement 24 hours prior to closing so you can comfortably review it. If you don't have someone you trust who is knowledgable..an attorney's cost would be money well spent. Good Luck!
get a copy of your hud 1 before you go to closing and review the numbers carefully. other than that, be prepared for writers cramp.lol lots of signing to do.
Contact your loan officer and make sure everything is done and no surprises come up. Also talk to your real estate agent about the same issue. Our agent made sure to call the title company just to be sure everything was in order.
At this point there souldn't be any surprise at all.
1- Your lender gave you a good faith estitame right?
2- Your real estate agent gave you all the disclosures, addendum to contracts and whatever agreement you had with the sellers concerning the possession of the property and repairs right?
3- You made a home inspection and had the title verified right?
The only surprise you might get is the long boring and painstaking hour(s) you will spend at the title company reading through all their documents and as mentioned above tons of signing.
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