You’ll present your paid homeowner’s insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe the seller (remainder of down payment, prepaid taxes, etc.) and then the money the seller owes you (unpaid taxes and prepaid rent, if applicable). The seller will provide proofs of any inspection, warranties, etc. Once you’re sure you understand all the documentation, you’ll sign the mortgage, agreeing that if you don’t make payments the lender is entitled to sell your property and apply the sale price against the amount you owe plus expenses. You’ll also sign a mortgage note, promising to repay the loan. The seller will give you the title to the house in the form of a signed deed. You’ll pay the lender’s agent all closing costs and, in turn, he or she will provide you with a settlement statement of all the items for which you have paid. The deed and mortgage will then be recorded in the state Registry of Deeds, and you will be a homeowner.
Categories
- Blog
- Accessibility
- Appliances
- Architecture
- Attic
- Basement, Foundation & Crawlspace
- Bathroom
- Bedroom
- Blog – Season 01
- Blog – Season 02
- Buying
- Cabinetry
- Carpentry
- Charity
- Cleaning
- Closets & Storage
- Codes & Legislation
- Contest
- Deck, Porch & Patio
- Decor
- Demolition
- Doors
- Driveway & Walkway
- Electrical
- Energy Efficiency
- Entertainment Room
- Entryway
- Events
- Exterior Features & Spaces
- Fitness & Recreation Room
- Floors
- Garage
- Green Building
- Hardware Tools
- Healthy Home
- Hiring a Pro
- Home Design
- Home Lighting
- Home Office
- How To
- HVAC
- Innovative Technology
- Inspecting
- Kitchen
- Laundry
- Lawn & Garden
- Living Spaces
- Masonry & Paving
- Paint & Wallpaper
- Pest Control
- Plumbing
- Real Estate
- Recycling
- Renewable Energy – Solar Biomass Wind
- Repairing
- Restoring
- Roofing
- Safety
- Seasonal
- Security
- Sheds & Outbuildings
- Siding
- Special Features
- Stairs
- Thomas J. MacDonald
- TV Show Tours
- Walls & Ceilings
- Weatherizing
- Windows
- Woodworking Industry
- Workshop
- Gallery
- Appliances
- Bathroom
- Cabinetry
- Closets & Storage
- Deck, Porch & Patio
- Electrical
- Energy Efficiency
- Exterior Features & Spaces
- Fitness & Recreation Room
- Floors
- Garage
- Green Building|Gallery
- Home Design
- Home Lighting
- HVAC
- Innovative Technology
- Kitchen
- Lawn & Garden
- Masonry & Paving
- Plumbing
- Real Estate
- Roofing
- Safety
- Seasonal
- Sheds & Outbuildings
- Siding
- Sunroom
- Travel Events Gallery
- Home Improvement
- HowTo
- 101
- Accessibility
- Appliances
- Architecture
- Basement, Foundation & Crawlspace
- Bathroom
- Bedroom
- Cabinetry
- Carpentry
- Cleaning
- Closets & Storage
- Deck, Porch & Patio
- Decor
- Demolition
- Doors
- Driveway & Walkway
- Electrical
- Energy Efficiency
- Entryway
- Fitness & Recreation Room
- Floors
- Framing
- Garage
- Green Building
- Hardware Tools
- Healthy Home
- Hiring a Pro
- Home Design
- Home Lighting
- HVAC
- Innovative Technology
- Inspecting
- Kitchen
- Lawn & Garden
- Living Spaces
- Masonry & Paving
- Paint & Wallpaper
- Pest Control
- Plumbing
- Real Estate
- Renewable Energy – Solar Biomass Wind
- Repairing
- Restoring
- Roofing
- Safety
- Seasonal
- Security
- Sheds & Outbuildings
- Siding
- Special Features
- Stairs
- Step-by-Step
- Sunroom
- Walls & Ceilings
- Weatherizing
- Windows
- Projects
- Step By Step
- Appliances
- Bathroom
- Cabinetry
- Carpentry
- Cleaning
- Closets & Storage
- Deck, Porch & Patio
- Doors
- Driveway & Walkway
- Electrical
- Energy Efficiency
- Floors
- Garage
- Hardware Tools
- Home Lighting
- HVAC
- Lawn & Garden
- Masonry & Paving
- Paint & Wallpaper
- Plumbing
- Roofing
- Safety
- Seasonal
- Siding
- Walls & Ceilings
- Weatherizing
- Windows
- Workshop
- Tips
- Accessibility
- Appliances
- Attic
- Basement, Foundation & Crawlspace
- Bathroom
- Bedroom
- Buying
- Cabinetry
- Carpentry
- Cleaning
- Closets & Storage
- Deck, Porch & Patio
- Decor
- Demolition
- Doors
- Driveway & Walkway
- Electrical
- Energy Efficiency
- Entertainment Room
- Exterior Features & Spaces
- Floors
- Framing
- Garage
- Hardware Tools
- Hiring a Pro
- Home Design
- Home Lighting
- Home Office
- HVAC
- Kitchen
- Lawn & Garden
- Living Spaces
- Masonry & Paving
- Paint & Wallpaper
- Pest Control
- Plumbing
- Real Estate
- Recycling
- Roofing
- Safety
- Seasonal
- Sheds & Outbuildings
- Siding
- Special Features
- Walls & Ceilings
- Weatherizing
- Windows
- Workshop
- Videos