6 Steps to Buying A Home Part III

6 Steps to Buying A Home - #5 Loan Underwriting & #6 Closing

This week in real estate we're going to finish our 6 part series on the home buying process. We're going to talk about what happens after the appraisal and when you get your keys on closing day.

Following the appraisal there's an underwriting period in which your lender is reviewing all the documentation that you've completed. It's crucial during this time that you do not open up any credit cards add any expenses such as buying a car or new furniture for the house. There needs to be a complete paper trail for everything and they will pull your credit again a few days before closing. It's usually a two to three week process following the appraisal that this underwriting period goes on. Please be mindful of your credit! We see a lot of people trip up and then they don't end up closing. 

So, when do you get your keys??! That's what everyone really wants to know, right? Technically, the house is yours as of 12AM on the day of closing. You'll want to make sure that you are insuring the house and that you have all the utilities in your name. 

Once the loan is funded, which means that the money is there,everything is sent over to the Title company. Title makes sure everyone has paid what they need to. Once that is done, they go and get it recorded with the County Recorder's office. In this case it would be in Maricopa County. 

Once it's recorded your real real estate agent will let you know that they can give you those keys. Your agent will meet you at your new home! 

Congratulations! You did it.

Remember, the seller must have everything out of the home by 11:59pm the day prior to closing. Otherwise, any property left behind technically becomes the property of the new buyer.

If you missed any parts of this series we have them on our YouTube site. 

We hope you enjoyed this series.

Thank you and if you few missed steps 1 & 2, we do have those posted on our social media website and YouTube. 

Don't forget to look at for us at GiordanoSellsAZ  

Have a great week everyone. Are you ready to BUY or SELL in the Phoenix, Arizona area? 

Contact us: 

 Email: Gteam@GiordanoSellsAZ.com 

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