The last step in buying your new home, commonly referred to as “the closing” or settlement, involves transferring the title and the signing of all final legal documents. Be sure to review all documents before signing them as they are legally binding. . You will sign a mortgage note to secure your loan and outline the specific terms of your repayment. You and the seller will be required to sign an affidavit swearing the property is free of liens, judgments, assessments, etc.

Both the mortgage and a deed of trust should be recorded in the County Recorder’s Office or the Registry of Deeds. Lastly, the buyer the seller must bring with them the deed or title to the home, along with inspection papers, transferable bills, and the bill of sale. As a buyer, you are required to have your down payment for the lender, the tax deposit and insurance to the escrow agent. Once you’ve closed the deal the house is yours.

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