After your mortgage has been approved, the final step of buying a home is closing. This is where all parties sign the necessary documents and ownership of the property is finally transferred over to you.
The procedures for closing may vary from state to state, but the following people are usually present during signing:
- You, the buyer
- The home seller
- Real estate agents
- The mortgage lender
There are several fees and payments associated with going to closing that may include, but not limited to: