You've found your dream home, the seller has accepted your offer, your loan has been approved and you're eager to move into your new home.
But before you get the key, there's one more step called the closing. The closing is the process of passing ownership of a property from the seller to the buyer.
As a buyer, you will sign what seems like endless piles of documents and will have to present a sizeable check for the down payment and various closing costs.
Check in with your lawyer to get an idea of lawyers fees and cost surrounding the purchase of your new home.
Are you a first-time homebuyer? Did you know that if you haven’t owned a property in the last three years that you are considered a first-time homebuyer?
Before the offer to purchase is created, you must be at least pre-qualified or, better yet, pre-approved by a lender, unless you are paying cash.
Once your offer is accepted by the seller it starts the offer accepted period. You will be asked for a down payment, typically 1% of the purchase price, on the home you are purchasing which will be held with an attorney or settlement company and applied to the final purchase of your property.
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Are you thinking about buying? The video resources below cover many of the common questions that most people have during the home buying journey.
What are Closing Costs?
You've found your dream home, the seller has accepted your offer, your loan has been approved and you're eager to move into your new home.
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Corinne Campbell & Kim Ziebell
REALTOR®, Brokers
(613) 701-9490
2141 Thurston Drive, Unit 103
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