Step 5 Close Your Deal & Officially Take Ownership
Your “closing appointment” will entail signing a lot of paperwork that will officially transfer the ownership of your home from your builder to you.
You should expect to be notified of the closing date and appointment by your builder in advance. You should also expect all the legal paperwork that will change the ownership of the home to you to be carefully explained before you sign. A typical house “closing” involves a real estate lawyer or notary. You should review the "Agreement of Purchase and Sale" with your lawyer before you sign. Your lawyer will pay the seller of the home (i.e. your builder), register the home in your name, and provide you with a deed. You will also receive information about utility transfers, insurance, and the final payment.
Before You Close
Before you sign, there are a few things that you will want to ensure you have completed:
Discuss any building deficiencies that you raised with the builder during construction and/or at the Pre-Delivery Inspection to ensure that they have been fixed. If they have not been fixed, be sure that you receive an explanation in writing.
If your builder provides an orientation session for your new home, make the time to attend this session to understand your home better and both your rights and responsibilities as the homeowner.
Understand how to report any new or outstanding deficiencies.
Understand the warranties for all the items in your new home. This includes knowing which items are covered and not covered by warranty.
Before You Move In
Be sure you fully understand:
How to use all the appliances, fixtures, and systems in your home.
How to properly maintain your home.
If you are missing information, contact your builder to learn more.