Step 7 : Close on the house
No matter how long ago you signed the contract, the banks like doing things last minute, so don't be surprised if there is some last minute requests for something from them, they have to get a closing disclosure to you 3 days before closing so that you can review all the items on it.
The attorney's office will put together the ALTA, closing statement. This is a standard federal document and it will list every cost associated with the sale of the house and most importantly how much money you have to bring to closing.
Unless you only need a small amount of money to closing, it is typically wired in to your attorney’s office. There has been a lot of the wire fraud recently, so be extra cautious here. It’s a good idea to phone the attorney and confirm the bank details over the phone.
The closing takes place at the attorney's office in South Carolina. It’s at the buyer’s choice of attorney.
The seller might be there or might not. You don't even have to be there, you can do a power of attorney, but typically the buyer is there. It takes about an hour.
That morning you will have done a walk through of the house to make sure it is still there & agreed repairs are complete.
But to close on the house, all you need a pen with a lot of ink, wire in your downpayment and your identification. That's it. You will sign lots of documents and then you get the keys to your new home.
Congrats, you’re a homeowner !!
Got questions ? Contact me darragh@empirecharleston.com or 843 452 2325