#5 – Go Sign Some Docs at Your Lawyer’s Office
July 22, 2009 1:29 pm Employed Persons, First Time Home Buyer, Interest RatesOver the past few weeks we have been looking at the process for getting a mortgage to purchase a house. By this point we have a lender that is committed to loaning us the amount of money you will need to get your home.
The next part of the process is pretty simple.
Once the lender has accepted all of the documents that were sent to them they will contact your lawyer. Your lawyer’s job is to be the liason between you and the seller (or their lawyer). The lawyer confirms the amounts and requests the key data. Once complete the lawyer and you will be in contact with each other and set up a meeting. In this meeting you will sign some key paperwork. (To determine specifically what you will be signing please contact your lawyer directly.)
When you have signed all the documents the lawyer will then file your data with land titles. Your property will then be in your name on the title and the lender will show as a group that has interest in your property.
The cost of the lawyer’s services can range anywhere from $800-$1500.
Ta da legally speaking you now own the property.
The process for getting a mortgage isn’t hard. We all just need the map and a person who is willing to work with you to help you along the way. This is what a great mortgage broker should be. We can be so much more than just a person who can get you a great rate.
Feel free to call if you have any questions at all.
