As you approach the closing table to close on your new property there's both a sense of relief as well as apprehension. Buying คอนโด กรุงเทพ and financing real estate provides emotions across the spectrum. There's certainly a certain amount of anxiety for some but overall the key emotion is the one of pride. The pride of ownership. It's yours now. But when exactly, is it yours?
When you sign your closing papers and hand over your cashier's check or wire in your closing funds, it's often the case that the closing agent hands you the keys to your new property. Is the property yours?
When a lender sends your closing papers to the closing agent be it an attorney or an escrow officer the closing agent is required to review the closing papers to make sure the closing agent complied with the lender's requests. Loan documents are legal forms and while varying to some degree from state to state generally they all contain boilerplate legalese that highlights important facts such as how much you pay each month, the legal description of the property as well as a host of required paperwork.
Even though you may have received the keys to the property at closing, until the lender gives the final "okay" to the closing agent, you're not really there. Yes, you have the keys, but funds haven't changed hands and your mortgage is not official until they do so. So now is the property yours?
Yes, but there's one more step before the property is legally transferred. It has to be recorded. There's typically a "recording fee" on your settlement statement, perhaps there's more than one. When your closing documents are filed and officially recorded with your county or parish, then you're officially the owner. Now you can celebrate. Officially.
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