Homeownership:

Wants vs Needs| Using a Real Estate Agent | Using DPA | Home Value |
The Offer | Inspection & Closing | Closing Meeting |
Benefits & Responsibilities as a New Homeowner

The Closing Meeting

You will be given a final settlement statement or a HUD-1 form which summarizes the closing and pre-paid costs.

T he closing agent is obligated to provide you a copy of the final settlement statement 24 hours before the scheduled closing. This will allow you to compare against the estimates and be prepared to discuss any discrepancies if they exist.

After reviewing the HUD-1, you will sign the balance of mortgage forms provided to the escrow agent by the lender. The escrow officer then disburses the proceeds as outlined in the HUD-1 settlement statement to the present mortgage lender, Realtors, lender and recorders office.

Upon recording, you will be given a copy of all documents and the keys to your new home.

Next: Summary

Wants vs Needs| Using a Real Estate Agent | Using DPA | Home Value |
The Offer | Inspection & Closing | Closing Meeting |
Benefits & Responsibilities as a New Homeowner