Before you can take possession of your new home, you must have a closing. This is where all monies are paid and the title and deed are then transferred to you. Once construction on your home is complete, your builder will call either you or your attorney (if applicable) to schedule a closing date. The builder will then confirm the closing date, time and location in writing and send copies to your attorney and your lender.
Here is some guidance to help you navigate the closing process.
What do I need to provide my builder?
If you are using an attorney and/or a lender, be sure to provide your builder with their names and contact information. If you change attorneys or lenders, make sure your builder has the updated information.
Do I need an attorney?
No, using an attorney is not required by law. However, many people feel comfortable hiring an attorney for the closing. If you decide to use an attorney, it’s a good idea to use one who specializes in real estate. Be sure to discuss their fee before the closing.
Where will the closing be held?
Closings are typically held at the office of a title insurance company. For Hartz Homes, we schedule our closings Monday through Friday during regular business hours. You should allot approximately one hour for your closing.
What does the title company do?
The title company will provide title insurance to protect your ownership of the property. This insures that you have clear title on the property against claims of any kind, other than your mortgage. You will receive a copy of the title insurance policy at the closing.
The title company also records the deed with the appropriate government office. You will receive a copy of the deed once it is recorded.
Can I use my own title company?
Typically not. For Hartz Homes, each of our subdivisions has a contract with a nearby, experienced title insurance company to ensure an efficient and trouble-free closing.
When can we move in?
At the closing, after all monies are paid and all papers are signed, you will receive the keys and occupancy certificate to your new home. You may move in any time after the conclusion of the closing.
Looking for a lender? Hartz Homes can connect you with a professional mortgage representative today!