Day 17-30 This is the time when your lender is finalizing the particulars of your loan and working closing with the escrow company to coordinate paperwork and funding requirements At this time, you will need to provide evidence of HOMEOWNER’S INSURANCE to the escrow company and prepare to WIRE THE BALANCE of your down payment plus CLOSING COSTS
Day 25
Closing costs average about 2% of the purchase price of the home, and include the fee you pay to the lender, escrow, and the title company Perform FINAL WALK-THROUGH of home to ensure it is in the same condition and that any repairs requested have been completed as agreed The escrow company will make an appointment with you to sign your LOAN PAPERWORK, and ask you to deliver the balance of your down payment and closing costs
Day 30
The escrow company receives your final funds as well as the funds from your lender, and works with the title company to RECORD the home in your name
Congratulations- you are now a homeowner and receive the keys