Closing The Deal


On closing day, all parties will sign the papers officially sealing the deal and ownership of the property will be transferred to you. It's your opportunity to make any last-minute changes to the transaction.

The day before closing, be sure to gather all the paperwork you have received throughout the home-buying process, your Pendergrass Realtor will have them on hand also. You might need to refer to these documents at closing.

Final walk-thru- 24 hours before closing you should expect a final walk-thru to ensure that the seller has vacated the property and left it in the condition specified in the sales contract.

What is signed at closing? The agreement between the buyer and their lender or Mortgage and, the agreement between the buyer and the seller or Deed are the 2 categories of paperwork covered during closing. All documents are typically prepared and witnessed by a lawyer or closing agent representing the lender. The lawyer or closing agent also ensures that all closing fees and escrow payments are paid and distributed correctly.

Closing Documents

  • HUD-1 settlement statement:

    A detailed list of all costs related to the sale of the home. It is similar to a good-faith estimate, but the HUD-1 is not an estimate; it is a precise record of the settlement costs. Both the buyer and the seller sign it. By law, you have the right to review the HUD-1 24 hours before closing. Do so. Clear up any mistakes and resolve problems.
  • Mortgage note:

    This document states the buyers promise to repay the mortgage. It indicates the amount and terms of the loan, and what the lender can do if you fail to make payments.
  • Mortgage or deed of trust:

    This document secures the note and gives the lender a claim against the home if the buyer fails to live up to the terms of the mortgage note.

Once you've reviewed and signed all closing documents, the house keys are yours and you will have successfully bought your new home!