Whether you’re looking to buy a new home in the Southwest Twin Cities or you’re trying to sell your home in the area, the end of your journey will be the same: the closing process. This is when the buyer and the seller come to an agreement on a home purchase and work through the final steps of transferring ownership of the property. The closing process involves several steps for both buyers and sellers.

Home buyers in the Southwest Twin Cities metro will need to do the following as part of the closing process:

• Perform a final walkthrough of the home you’re purchasing to make sure everything is in order.
• Carefully review all closing documents, including the closing disclosure, which outlines the final loan terms and closing costs. This document must be provided at least three business days before closing.
• Make certain that your mortgage is finalized, including the underwriting and approval of the loan. You will need to obtain and provide proof of homeowner’s insurance to the lender during this time.
• Bring a cashier’s check or wire transfer for the down payment and closing costs of the home you’re purchasing.
• Sign all documents associated with closing, including the mortgage note, deed of trust, and any other loan-related paperwork.
• Pay all of the closing costs detailed in the closing disclosure, including origination fees, title insurance, and escrow fees.

Those selling a home in the Southwest metro will need to complete these closing tasks:

• Review the closing disclosure, which outlines the proceeds from sale of your home after any fees and mortgage balances are paid off.
• Complete any repairs that you and the buyer agreed would be your responsibility during negotiations.
• Provide important documents such as the deed, property tax information, and any appliance manuals or warranties.
• Sign closing documents like the deed transfer and settlement statement.
• After signing the necessary documents and receiving payment, transfer ownership of the home to the buyer by handing over the title.

Contact the Nydahl Group today if you’re seeking a reliable real estate agent in the Southwest Twin Cities metro or you need help with the closing proceedings of a home sale!