Coconut Creek Real Estate: Six Steps to Closing on Your New Coconut Creek Home

By the time you reach the closing phase on your new home, you have been through many processes-you’ve chosen a realtor, you’ve searched the MLS, you’ve driven all over town viewing homes, and you’ve submitted an offer (or two). Your head may be spinning but you are finally in the home stretch! Here are the final six steps to making the Coconut Creek home you’ve chosen yours:

1. The Seller Accepts Your Offer

This is where it all begins! At this point, you may present a deposit on the property to solidify your interest in the property. A settlement agent (AKA closing agent, escrow officer, escrow agent) gets involved to facilitate the closing on your home. The settlement agent will contact begin the title work and begins an escrow account to house your deposit, if applicable.

2. Title Review

The settlement agent will contact a title company to begin title research on your prospective home. Every home has a set of documents associated with it that are usually housed at the local courthouse. They list the previous owners, lenders, and any other entity that ever has or had interest in the house. The settlement agent is then given these documents.

3. Finances Are Finalized

Your mortgage lender and settlement agent now work together ensure any and all issues regarding the loan are identified and handled appropriately. They iron out all of the facts and final figures for the loan as well.

4. A Home Inspection Is Ordered

A professional inspector is hired to survey the property and identify any and all issues with the structure of the home. This includes looking for termite infestation, cracks in the foundation, faulty craftsmanship, roof integrity, etc. This is required by many lenders prior to closing and is recommended to all buyers.

5. A Closing Statement Is Prepared

This document is also known as a “settlement sheet” or “HUD-1 statement”. It outlines all fees and costs to be paid at the closing. This is prepared by the settlement agent prior to closing. Be sure to confirm with your settlement agent as to what amount of money you will need to provide at the closing.

6. Closing Day

Arrive with the correct funds and a picture ID to complete your closing. You will be signing numerous documents that your settlement agent will explain to you during the closing process. Once all of the documents are complete and monies are exchanged, you will receive the keys to your new Coconut Creek home!

To Begin Your Search for the Perfect Home or to Sell Your Home in
the Township of Coconut Creek, Begin Your Journey by Calling
Silva Stoyanova at (954) 673-4402.