I am a homeowner!!

The closing process was pleasantly painless and actually enjoyable! I had to sign many fluttering papers, but not so many for my signature to become illegible. In fact, the hard part had already been done, and all the discussions had. This was just a formality.

My Stepwise Closing

1. I went to the law office of my closing agent.
2. My agent and me, the sellers and their listing agent, and the closing agent were present.
3. First, the closing agent went over my column of the HUD 1 settlement statement to make sure I understood all the costs, particularly the itemized portions that were covered by the seller-paid closing costs.
4. Then I signed loads and loads of papers.
5. After I was finished with my bit, the closing agent repeated steps 3 and 4 with the sellers, although they had fewer pages to sign. However, my seller's son was signing as a proxy, so he had to write out in cursive, "Seller's Name by Proxy's Name as AIF," twice on each form since there were two sellers. Ick.
6. Once all forms were understood, explained, and signed, the closing agent collected my and the seller's driver's licenses, and I handed over my certified check for my down payment (made out to me).
7. After the closing agent made copies and final approvals with the lender, she was ready to cut our checks and call it final! My lender had overestimated my down payment, so I actually got the overage back as a check. And the sellers got their check!
8. We shook hands, and I got the keys, title, and home warranty.
9. In a happy ending, I would've gone straight to the house and celebrate. But in my contract, I gave the sellers two extra days to vacate and clean, so I won't have possession of the house for another two days. That's fine. More time to ponder paint colors!

The forms required during signing will of course vary depending on the contract and agreement between the buyers and sellers, the companies involved, and state/local laws and traditions. But for anyone wondering what they heck they may actually be signing, here's what I put pen on paper for today. No explanations provided. Don't ask! It all made sense during the signing!

Buyer Forms Required by the Lender

• Acknowledgment of receipt of settlement statement
• Truth-in-lending disclosure
• Uniform residential loan application
• Note on loan
• Security deed
• Foreclosure closing disclosure
• Request for taxpayer ID number and certification (W-9)
• Compliance agreement
• Statement of occupancy
• Preferred payment plan
• Request for transcript of tax return
• Correction agreement limited power of attorney
• Property insurance requirements
• Notice of assignment. Sale or transfer of servicing rights
• Affiliated business arrangement disclosure
• Appraisal acknowledgement
• Customer contact disclosure
• General loan acknowledgment
• Initial escrow account disclosure statement

Buyer Forms Required by the Closing Agent

• Compliance agreement
• Limited power of attorney correction agreement
• Disclaimer and notice to purchaser and seller
• Survey waiver and acknowledgment with hold harmless
• Wood infestation report acknowledgment and waiver
• Hold harmless agreement for termite letter

I didn't even mind it all that much. Today was a fine day for a signing--high 70s, blue skies, and sunny.