It's finally here! Closing day! Before you get swept away in the excitement of a new house, make sure you remember some important points with the home closing process. Here are some thoughts to consider.

1. Know exactly what you are buying. Buying a home is a major investment. Do your homework and make sure the property has been inspected and you know exactly what you are getting.
   
   
2. Know how you are paying. It's important to educate yourself on the type of loan you about to inherit, when payments are due, what the interest rate is and any penalties associated with the loan. When signing the paperwork, ask questions and make sure you understand the terms of the loan.
   
   
3. Know what out of pocket expenses are associated with the closing. Although you have a loan, there is a possibility that some money will need to be paid out so the closing can proceed smoothly and the closing happens on time.
   
   
4. Know if you're "turned on." Are utilities hooked up? Did you have them transferred or is there a gap between shut off dates? It is important to have this in place by closing time and that you know account information and contact information for the mortgage, utilities, property taxes, homeowner's insurance and other maintenance issues.
   
   
5. Know if the previous owner has kept up their end of the deal. If there were repairs that needed done make sure they are up to code. Scan the closing statement to make sure proper credit was received if repairs were completed during escrow. 

Remember, your Old Colony Sales Associate is there to help with facilitation but it is important to be educated and aware of all aspects of the closing. It's your money – make sure you know where it is going!