So what will happen at closing?
At the closing, you will most likely sit at a table with me, the broker for the seller, probably the seller, and a closing agent. The closing agent will have a stack of papers for you and the seller to sign. While he or she will give you a basic explanation of each paper, you may want to take the time to read each one and/or consult with me to make sure you know exactly what you are signing. After all, this is a large amount of money you are committing to pay for a lot of years! Before you go to closing, your lender is required to give you a booklet explaining the closing costs, a "good faith estimate" of how much cash you'll have to supply at closing, and a list of documents you will need at closing. If you do not get those items, be sure to call your lender BEFORE you go to closing. Be sure to read the HUD booklet on settlement costs . It will help you understand your rights in the process. Don't hesitate to ask questions, I will be happy to answer them to the best of my ability.
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