After all is said and done, the offer has been settled, the final stage of the home buying process is the closing transaction. This may be the end of the line but it is necessary and important in order to make the transaction official so you can move on into your new home. For the most part, once you close you are able to move in at any time.

Before you close, you need to do some things first. Make sure you have been approved and have purchased the proper mortgage that will give you enough money to pay off the entire cost of your home. You may not worry about the mortgage or financial obligation at first, but remember that you are held to the contract, and if you are unable to pay off your home, it may be repossessed or cost you other funds you cannot afford.

Once again, before closing you need to have your home loan set. Check with your lender to confirm. Review the commitment in case you missed something in the agreement upon review the first time.

Next, set the closing time and date and be prepared to move swiftly to close by that deadline. This is usually determined in the sales contract and synonymous to the commitment expiration.

Have a survey or inspection of your property to make sure the sellers have not cheated or deceived you, that you are aware of all of the home’s conditions and/or flaws or problems. You may contact your attorney or closing agent to schedule and confirm this walk-through took place.

Once you have everything in order, prepare to move! Contact your landlord to inform him or her of your move, fill out change of address forms at the post office so your mail will be forwarded, and inform businesses or other people that may need to know. Discontinue or disconnect services at your home and reinstall or transfer services, i.e., utilities, cable or internet service, to your new address.

Walk through your home one last time on your own. You do not want to miss anything! Make sure you are satisfied with the home, the contract, your mortgage, your moving plans and any other factors that go along with moving to your new home. You may want to get a certified cashiers’ check from the bank to pay for the closing costs. Usually you will not be able to pay with personal checks, cash or credit.

On the closing day, ownership will be turned over to you and this will be noted on signed documents much like the other contracts. This outlines your rights and the official transaction. You agree to pay for the home in full and give the lender the right to take your home or other insurance (home equity) in the case you do not pay off the loan. Then a closing agent or other representative will take care of the paperwork and funds exchanged. Once all of this has taken place, you can call yourself a homeowner.