Wednesday, November 11, 2009

Closing Docs

So, maybe you two already know this. But at your closing, you'll be presented with documents totaling about 2,000 pages of jargon, which you'll be expected to sign in 50 places.

This is a different world from the one in which we bought our first house 33 years ago, in two ways relevant to this.

(1) you are so used to click-through agreements on the web, that the thought of agreeing to something you haven't read is probably not as horrifying to you as it was to us 33 years ago, and

(2) as opposed to 33 years ago, the things you sign might say, "If you are ever late with a payment you will owe us $2,500,000 payable in 60 days or you lose your house", and it might be enforceable.

Anyway, you were probably completely prepared for this, but I thought I would warn you anyway.

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