Closing Documents
At closing, the documents necessary to convey your new home to you and to close the loan from the Mortgage Company will be executed and delivered.
The Principal Documents
General Warranty Deed
The Warranty Deed conveys the home and lot to you.
Title Commitment
At or before closing, we will deliver to you a standard form ALTA owner's title insurance commitment, committing to insure merchantable title of your home to you in the amount of the purchase price, subject to the permitted title exceptions that may be described in the purchase agreement. Review the title commitment carefully and if you have any questions, ask your Sales Counselor.
Within sixty (60) days after the closing, the title company will deliver to you (by mail) a standard ALTA owner's title insurance policy, insuring title to your home in accordance with the commitment you will already have received.
The title insurance policy should be kept with your other valuable papers.
Limited Warranty
This information is contained in this Guide. Please read it thoroughly. See the Limited Warranty for the full terms.
Promissory Note
The Promissory Note from you is payable to the lender in the principal amount of the loan, plus interest, taxes and insurance.
Deed of Trust
This encumbers your home as security for repayment of the Promissory Note.
Other Documents
In addition to these standard items, the lender, the Title Company, and Classic may require other documents to be signed.