6. CLOSE THE DEAL

You're now at the home stretch. Get it? "Home stretch?" Shut up. We're tired. Buying a house takes a lot out of you.

You and the seller have come to an agreement, so now you have to make it legal. Your real estate agent will draft a sales contract and you'll fill out a formal loan application with the lender who preapproved you for a mortgage earlier. Your sales contract will include legal descriptions of the house and its location, any mortgage contingencies, deposits, closing costs, termite inspection costs, warranties, home inspection contingencies, home insurance, and last (but certainly not least), the possession date.

After everybody signs on the dotted line, the next step is the final "walk through." If the seller was living in the house, this takes place once they are gone and the house is ready for you to move into. You will probably do the final walk through with your real estate agent and a home inspector. Bring your sales contract along to make sure everything that was supposed to be fixed did indeed get fixed. If it isn't, then now is the time to legally get the seller to take care of it. You can't close on the house until all of these details are taken care of.

Okay, so you've gotten your final mortgage application approved, the final walk through accomplished, all the house inspections satisfied, and the homeowner's insurance policy is in your pocket. Now, can you move in? No, intrepid home-buying pioneer! Now you sit down with a closing attorney for the closing. Who can act as the closing attorney varies somewhat from state to state. One thing that is consistent is that the closing attorney has to be approved by your lender. And for good measure, you should bring your real estate agent along (chances are the seller and his/her agent are going to be there as well). This is when everyone will sign the settlement statement and put the title of the house in your name. This is also when you will pay the closing costs. You'll have to present all the legal documents you have been gathering up to this point (your homeowner's insurance policy, your loan papers, whatever). Once everything has been signed and you've handed over your certified check, then -- and only then -- will you finally be presented with the keys to your new home. Congratulations, homeowner.

What comes next is a no-brainer. You move in. What, you didn't make any moving plans? May we suggest you take a look at "SoYouWanna move to a new city?" And now that you are in your new home, how about doing something about that lawn? You don't want to embarrass the neighbors already, do you? There'll be plenty of time for that later...