10. Celebrate Closing Day! will be a bunch of other paperwork and disclosures to sign, but the deed and the note are the two most important documents in a mortgage. The deed establishes your ownership of the home, subject to a lien held by the lender. The note establishes the terms of the loan. With all the paperwork executed and the necessary approvals complete, the lender wires the loan proceeds to escrow; you wire your down payment to escrow. Once enough funds are in escrow to satisfy the purchase contract and closing costs, the escrow holder distributes funds to everyone who is owed money for the transaction — most importantly the seller. The deed is recorded with the County Clerk, and you get the keys — you are officially the owner of that property.
Congrats — and welcome home!
Ready to get started on your mortgage application? Give me a call today!
Rita Realtor Real Estate Office 904-555-1010 Rita@Realtor.com www.Authorify.com
RITA REALTOR | BROKERAGE 904-555-5555 | Rita@realtor.com | www.Authorify.com
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