title remains with the borrower. • Certificate of occupancy (for new houses only). The Certificate of Occupancy provides authorization from the local government for a building to be used as a public edifice or as a private residence. The purpose of the certificate is to provide verification that the building is in full compliance with current building codes and is safe for occupancy. This type of certificate is issued by the local government whenever a new building is constructed within city limits. Inspections are conducted to ensure that the basic construction, wiring, plumbing, and other elements of the building are up to code, and can be certified as being safe for occupation. Such a document is needed to legally move into a house. If your home-buying team is competent enough, you will not be seeing those documents for the first time at the closing. Do not sign anything if it is unclear to you, different from what you agreed to, or just seems wrong. Make sure that you understand what you are signing and how your payments will be distributed over time. Charges change differently over time depending on the mortgage type, and may also depend on your insurance or taxes.
AFTER YOU SIGN THE P GN THE PAPERS
Take the keys and start moving into your new house! You are now a legitimate owner and a person who is responsible for a mortgage loan. Nothing can be compared to buying your first home. When you finally get through with it, you'll be able to relax and enjoy your new property. Don’t worry — most of the time, you’ll reach the finish line with a smile on your face and a beautiful new home to call your own. 83
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