Working with your availability as well as the timeline with which we have to adhere, Dawn and The Team will arrange your sign off appointment at the title company.
This is when you sign all of your mortgage paperwork and other documentation required to finalize your home purchase. If the title company location isn’t easily accessible to you, we can request a sign off at a branch closer to home or work. We will email you all of the details including the date, time, address, and the name of the escrow officer with whom you will meet. Dawn and/or your lender may also attend if necessary. The sellers will have already signed their necessary paperwork.
Please be sure to bring the following with you to your sign off:
- Valid photo ID such as your driver’s license or passport
- Checkbook (in the event payment of additional fees is required)
- Copies of your EMD and wire transfer receipts just in case, though title should have them
The title officer will guide you through the documents, explaining various key points as necessary. If your lender is also there, they can provide specifics with regard to the mortgage, such as when your first payment is due and where to send it.
It is important you understand how and when your property taxes are paid as well as how to claim any exemptions to which you are entitled. These exclusions can save you a significant amount of money each year. The Homeowner’s exemption allows up to $7,000 off the property’s assessed value. If you are able to take advantage of Proposition 60 and/or 90, this can also result in substantial savings on your property taxes.
As mentioned previously, if you are or are in the process of getting divorced, your spouse may need to sign documentation to waive their rights to the property. Check with your lender in advance to determine if this is necessary in your situation. Do not leave this to the last minute as it could jeopardize your home purchase.
If there is anything you do not understand during the sign off appointment, please feel free to ask the escrow officer, your lender, or Dawn. After the closing is official, you will receive a refund of any overages paid. A check will typically be sent to you within a week to ten days.
You will also receive a closing package, typically sent via email, once the escrow process is complete. Be sure to download and save and/or print and keep these documents for your records. The closing disclosure spells out all of the key terms of your loan including how much you are borrowing, your interest rate, whether your loan is fixed or adjustable, your projected monthly payment, and more. You should also have seen this document prior to signing off at the title company. Click here for an in-depth look into the closing disclosure.
As a reminder, you may want to contact your moving company to confirm they have you on their schedule and are aware of any unique specifics such as parking restrictions or permits, designated moving timeframes (if specified by your new HOA), etc.
The next step is waiting for the notification that the closing is official so we can hand you the keys to your new home!
