What to Expect on Closing Day
Closing day is when you finally take legal possession and get to call the house your home. The final signing usually happens at the lawyer’s office, however, due to the pandemic, many lawyers are accommodating virtual signing appointments.
These are the things that will happen on closing day:
- Your lender will give the mortgage money to your lawyer/notary.
- You must give the down payment (minus the deposit) to your lawyer/notary.
- You must give the remaining closing costs.
Your lawyer or notary:
- Pays the vendor
- Registers the home in your name
- Gives you the deed and the keys to your new home by 5 p.m.