Closing on Your New Home

At closing, the ultimate purpose of your purchase agreement is achieved: ownership of your new home is transferred from Classic Homes to you. This section provides a brief overview of the closing process.

What's in this guide

• Delivery Date — why the delivery date is always approximate, and how you will be notified of changes.
• Date and Location of Closing — when and where closing takes place, closing expenses, and "the final number."
• Closing Documents — the principal documents executed and delivered at closing.
• Preparation — insurance, questions, utilities, phone, trash, and mail.

Welcome to Your New Home

As the ink is drying on the last closing document, you will be handed the keys to your new home. We want to take one more moment to thank you for selecting Classic to build your new home and welcome you to the Classic family.

Key terms

Delivery Date — the approximate date your home will be ready; it cannot be guaranteed because many factors affect the time it takes to build a home.

Closing Documents — the General Warranty Deed, Title Commitment, Limited Warranty, Promissory Note, and Deed of Trust.

Closing Expenses — customary items prorated to reflect the periods that you and Classic own the property, plus prepaid expenses, reserves, and insurance premiums.

"The Final Number" — the final cost figure, usually not available until the final days before the scheduled closing.