The closing process to an MN Custom Homes New Construction home has very exciting, sequential steps. Let’s take a closer look.
Certificate of Occupancy
When the construction is complete, the home will be inspected by the city and given a Certificate of Occupancy. This means the home is built to all safety and construction regulations and is ready to be lived in.
Private Inspection
Next, a private inspection of the home may be conducted by the buyer. This serves as a second opinion that the home was built according to all building standards.
Orientation
Following the inspection, we prepare for the home’s closing! At this point, the Project Manager for the home will schedule a New Home Orientation so the buyer can learn how the home operates and ask questions if they have any.
Appraisal
If the buyer obtained a loan, the lending institution will need to conduct an appraisal. This is to ensure that the loan value matches the value of the completed home. Once the appraisal is complete and the lending institution is satisfied with the results, the home closes!
The closing process requires that each step be completed with approval from all parties. In the end, the buyer signs the final papers and get the keys!
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