Before closing, buyers typically have a final opportunity to walk through the property to assure that its condition has not changed since the contract has been signed. Be sure that repairs you have requested have been made, all items that were included in the sale price are still there, all appliances are operating, garage door opener and other remotes are available, instruction books and warranties on appliances and fixtures are there and all personal items of the sellers and all debris have been removed.

Closings bring together all the parties who are part of the "transaction" process. All the necessary paperwork needed to complete the transaction is signed. It is typically held in the office of the buyer's attorney. All the papers have been prepared by the title companies, lenders and lawyers and they reflect the sale agreement and allow all parties to the transaction to verify their interest.

Once all the documents have been signed, the title to the property is transferred from the sell to the buyer. The buyer receives the keys and the seller receives payment for the home.

Here are a few of the necessary documents you may see at closing:

• The Real Estate Settlement Procedures Act (RESPA) statement also known as the HUD 1 statement. It will itemize all the costs associated with the closing. This will be needed for income tax purposes and when you sell the home.

• The Truth in Lending Statement summarizes the terms of your mortgage loan

• The mortgage and note spell out the legal terms of your mortgage obligation and the repayment terms.

• The deed transfers ownership of the property to you.

• Affidavits swearing to various statements by either party.

• Any Riders to the sales contract.

• Insurance policies that provide a record and proof of your coverage.

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