The Closing Of Your Columbus House And Beyond
The day has finally arrived: it’s time to close on your new Columbus house! You are finishing a long process that started weeks—and sometimes even months—ago, when you started looking at Columbus OH homes for sale. Now you are about to enter the wonderful world of home ownership.
The closing of your Columbus house is the point at which all the various legal details come together. Ownership of the property will transfer to you. You will most likely sign a promissory note and mortgage to finance the purchase. The Title Company has prepared all the documents that need to be signed, both by buyer and seller. It is also the time when the keys to the property are handed to you, the new owner.
The closing is the result of a team effort. Because of the work everyone has done preparing for this meeting, all you have to do at the closing is to sign the documents and provide the cashier’s check, if necessary, that the Title Company informed you to bring to the meeting. In many ways, this is the easiest part of buying a Columbus house.
You should have received copies of the closing papers a day ahead of time so you can review them before the closing. Most of the documents at the closing itself will have multiple copies for you to sign, and many places to initial. There will be disclosure statements, the note & mortgage, and related documents required by your lender. There will also be the deed to the property which officially transfers ownership of the home to you.
Before you move in:
- You’ll receive a copy of each document you signed at the closing. These papers are valuable because they are proof of your ownership. Make sure they are stored in a safe place. The original deed and mortgage will be recorded by the Title Company and the title policy will be mailed to you about 30 days after the closing.
- It’s standard procedure to change the locks when you buy a new home. This isn’t because you fear the seller may try to get into the house, but simply as a security precaution.
- Now is a great time to do any updates or repairs on the home that weren’t the seller’s responsibility. Perhaps you want to repaint the inside or install new carpet. Tasks like this will be much easier to do if the house is empty.
Once you have moved in, it’s important create a home inventory by photographing or videotaping the inside and outside of your home for insurance purposes. Your Columbus real estate agent and your insurance agent can guide you as to what sort of visual documentation you need to do.
Now you’ve earned the opportunity to experience the last and best step of this wonderful process: you get to enjoy your new home! Congratulations on a job well done!
Be sure to call Susanne at 614-975-9650 if you have any questions about closings or post-closing steps.