Once your offer on your first home is accepted, and the inspections agreed to in the contract have been completed and approved, and - most importantly - your mortgage has been approved, the closing for your first home will be scheduled.
A closing is where the home seller and the home buyer (that's you!) go to a title company to legally finalize the contract to purchase the subject property. The closing date is specified in the contract, and in most cases, occurs towards the end of the month.
Your agent will go to closing with you. Once there, the title officer will guide you through signing another big batch of paperwork - but this time will be the last!
Once these documents are signed and filed, and your mortgage company has released the funds, your Albuquerque first home is officially yours!
Did You Know? Typical closing time in the Albuquerque area is 30 to 45 days from acceptance of your offer. If you have your loan process well under way, you might be able to close faster. This is a super reason to get started on your Pre-Approval as soon as you're ready to buy...it can help you get into your first home faster!