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Closing
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5. CLOSING
The beauty of working with Northridge is that we have made the home-buying process, including preparing for financing and closing so convenient. We open escrow for you and have an established relationship with the title company so things flow smoothly.


5.1 Title Company

The purpose of a title company is to act as a neutral third party holding all instruments necessary to the sale, including funds and deeds. The title company will research the complete recorded history of the property, to insure that the title is free and clear of encumbrances by the date of closing and that all new encumbrances are properly added to the title. Some properties are subject to restrictions which limit various activities from building to parking restrictions. There may be recorded easements and encroachments, where others have limited rights to use your property.

5.2 Inspections

You have the opportunity to have professionals inspect your home's major systems such as water and sewer and also check for problems with other elements of the home such as the foundation, roof, or property boundaries. However, this is much less of an issue with a brand new home and very rarely are inspections necessary, especially since the home is covered under warranty.


5.3 Appraisal

The appraisal is something done by your lender to determine the value of the home you're purchasing and determine how much they are willing to let you borrow against it. This is done pursuant to closing and the lender may specify the appraiser that will be used. With our relationship with many financial institutions, mortgage brokers, and appraisers, we often can assist in setting up the appraisal to make sure it gets done timely and allows you to move into your home sooner.

 

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