What documents do I sign at closing?

The note is the promise to repay and the mortgage is the security instrument that puts a lien on the property. They are separate documents doing separate jobs, and only the mortgage is recorded. Read the rate, the term, the payment and the prepayment terms on the note before signing.

The deed transfers ownership. In New York City residential resales the usual form is a bargain and sale deed with covenant against grantor's acts, which is narrower than a full warranty deed. The seller signs and acknowledges it, and it is delivered at closing and recorded afterward.

The title affidavit is the seller's sworn statement about matters the record cannot show: no unrecorded tenancies, no unpaid work that could support a mechanic's lien, no undisclosed judgments, identity and marital status. The title company relies on it, so it is signed with care rather than glanced at.

Transfer tax returns travel with the deed. In New York City that means the TP-584 for the state tax and the NYC-RPT for the city tax, plus the RP-5217NYC equalization form. These have to agree with the deed and the settlement statement or the recording package gets rejected.

The settlement statement is the accounting. Every credit, debit, payoff, adjustment and disbursement appears on it, and once signed it is the record of what each party agreed to at the table. Take the time to read the adjustments for taxes, water and common charges before signing.