24. Put money together for closing costs
You, as the lender, are responsible for the home's closing expenses. These expenses will run into the thousands of dollars, so make sure you budget accordingly. Otherwise, they can catch you off guard and wreak havoc on your finances.
The lender deposits the deed to the house, and you collect the payment for it into escrow when you're closing on it. The act is issued to you, and the proceeds are released seller after the escrow conditions are fulfilled.
