It started as a vision. Then it became a plan. Now your new home is almost complete. The final step will be the transaction that transforms you from a dreamer to a homeowner. If this is your first time, here is some insight from Riverside Homebuilders into how to prepare for your new home closing.
Review the closing disclosure form. A few days before your scheduled closing date, your lender will provide you with a document known as a HUD settlement statement. This form outlines all of the terms and costs of the loan, including the interest rate, total loan amount, and exact monthly mortgage payment. This disclosure form also indicates the “points”, if any, associated with closing. These points are a percentage of the home’s price and should have been explained to you when you signed your purchase and sale agreement.
The settlement form also shows the funds you need to bring to your closing so that you’re prepared with the appropriate cashier’s check. Personal checks are never allowed, so make sure you include a stop at the bank before closing day! Often, the bank transfers the payments to the lender prior to the closing, so there are no checks exchanged.
Carefully review this document so that you understand and agree with all the figures outlined. Once you sign at the closing, you accept everything as is. It’s better to question an item in advance so as not to cause unnecessary delays.
Gather the paperwork. You will need to bring proof of homeowner’s insurance (unless you’ve provided it in advance to your lender) and government-issued photo identification (e.g., driver’s license). You will have received the final inspection report from the builder, but if not, get it before the closing.
Do the walk-through. Either a day or two before closing or on the day of the big event, you’ll do a homeowner’s orientation. Your builder will walk you through every room of the home, explain how the systems work—all the way down to which switch controls what lights. You’ll learn how to operate everything and discuss how to properly maintain your new home, like changing air filters. This is your chance to find any flaws that need to be repaired. No matter how small, make sure you mention it! The builder makes notes as you do this walk-through. At the end of this orientation, you’ll sign the punch list of items to be completed.
Closing day. Get ready to sign lots of forms. Your attorney, builder, real estate agent, and lender will join you. Your lender will go through each document, one at a time, explaining the transaction or confirmation it carries.
Finally, you are given the keys and pronounced a “homeowner”. Congratulations!
Before you buy: Special incentives from Riverside Homebuilders
If you’re still in the dreaming stage of buying a new construction home, Riverside Homebuilders has special incentives to help you get the home you want and keep some of your cash. We build single-family homes in communities throughout North Texas, in both rural and urban locations.
Right now, when you choose a Riverside home in one of our select communities, you have one more choice to make.
Take $5,000 toward closing costs, an appliance package, or a complete set of blinds for your new home. No matter what you decide, you’re gaining more value. This offer is available for all homes now available at Vintage Square in Gainesville, Springwood Ranch in Springtown, Kimbrough Place in Azle, and Canyon Ridge in Godley.
Our Canyon Ridge home at 7804 Sagebrush Drive has been reduced to $355,000. The special offer for this 3,035-square-foot home is a $2,000 Realtor Bonus, plus $3,000 towards closing and title if you use one of our preferred lenders.
At Colina Creek Estates in Farmersville, we’ve added a $2,000 Realtor bonus to our two, move-in ready homes: the popular Colca II floor plan at 2929 Luke Drive and the eye-catching San Bernard home design at 2815 Kate Drive (which has recently been reduced to $370,000).
Riverside Homebuilders also has a variety of homesites near Lake Como in Fort Worth. If you’re looking for a move in the city, consider one of these affordable new home options. Move in for just $500 and get $5,000 in closing costs when you choose one of our knowledgeable and experienced preferred lenders.
Everyone wants to get the best value in their new home. We’re giving you the chance to live in a quality-built home in a beautiful neighborhood, and do it within your budget! Contact Rachel at Riverside Homebuilders to learn more about our homes, communities, and special incentives.