The day before the closing of escrow, you should collect all of the paperwork you have accumulated throughout the process of buying your new home. This might include, but not be limited to, items such as, the contract, proof of title search and insurance, flood certification, proof of homeowners and mortgage insurance, the appraisal and inspection reports, etc. Closing day offers you an opportunity to make any last-minute changes to the transaction, and there is always a chance you might need to refer to one or more of those documents.

Your contract should entitle you to a walk-through inspection 24 hours before closing so you can make sure everything is in order according to the written agreement. If you find any major problems, you can request a delay in the closing, or ask that the seller deposit money into an escrow account to cover the necessary repairs.

At the closing, you will have two primary duties:

1. Signing legal documents. If a lender is involved, there will be two sets of documents: the agreement between you and your lender, and the one between you and the seller. The latter will legally transfer ownership of the home into your name. Read all of the documents carefully before signing, and don’t sign any forms with blank lines or spaces.

2. Paying closing costs and escrow items. If you are a borrower, you will elect to handle the numerous fees associated with obtaining your mortgage and transferring property ownership in one of two ways: you will either add them to the principal balance of your loan, or agree to pay higher interest rates and have your lenders assume the cost. You might have to pay these out-of-pocket fees.

The closing agent will conduct the settlement meeting and ensure that all documents are signed and recorded, and that all closing fees and escrow payments are paid and properly distributed. Rest assured that Elizabeth Axelgard, as your agent, will be there with you every step of the way.