It’s a great feeling as you near the closing of your new home purchase, after passing the tiresome house hunting, bidding wars, and tough pricing negotiations. Now, the time has come for making the house your home, in the legal sense. Being a first-time buyer, you may not know what to expect at a house-closing.

At closing, you will likely have to sit with a number of people who have actively participated in the home’s sale. These individuals include your real estate agent, the home seller, and attorney along with other parties that may sit in on a meeting with you at the closing table for an hour or so. Read the information below for a quick summary on what to expect at the closing of your new home.

1. Ensure Everything is in Place With A Walkthrough

This is an important step right before the actual closing, which ensures that the property is meeting your expectations as specified in the sales contract. This is a last chance to walk through the home and closely check if everything is in the condition as stated. Give your acceptance if the conditions of the home match the details on paper.

2. Bring Money In Cash To Pay Closing Costs

Bringing the required amount of cash needed to cover the closing cost on your behalf is part of the process of closing on a house. You can pay the down payment with a certified check or a cashier's check at the time of closing. The remaining payments due on the home can be paid using a lender’s check. For a detailed breakdown of the closing costs along with the expected payee for the same, you will need to go through the HUD. Finalizing the paperwork associated with closing of your new house, the Uniform Settlement Statement is an agreement signed by both parties – Seller & Buyer.

3. Bring a Proof of Identification

One of the steps to closing on a house involves submitting proof of identification to the concerned parties. Don’t forget to bring identification such as a passport or a driver’s license to confirm your identity.

4. Submit Proof of Home Insurance

You will need to submit proof of payment regarding your homeowner’s insurance plan. You may also submit a copy of your flood insurance if you have it. These documents serve the interest of lenders and are strictly reviewed by them before approving your application for closing a house.

5. Sign The Closing Deed

You will be required to sign a number of documents during the process of closing on a home. These documents are supposed to be signed by both you and seller to transfer the ownership of the property to you. These legal documents include the purchase agreement, mortgage documents, loan papers, settlement statements, etc. There will be documents like settlement sheets as well as a deed to transfer home ownership to you that you will be receiving at the end of the process. All documents will be submitted to the county recorder's office. However, don’t forget to keep these important copies in a safe place, preferably a fire retardant safe or a bank safety box, for your own records.

6. Take The Keys As The Home Is All Yours Now!

As soon as the title is recorded in the County Recorder’s office, the keys to the home will be given to you. We recommend that you change the locks as soon as you can. Do try all the keys you’ve been given and label them accordingly so there is no confusion. Last but not least, unlock your front door and enjoy your NEW HOME!