What is a responsibility of a buyer after signing the closing statement?

After signing the closing statement, a buyer is responsible for adhering to the payment plan outlined in the contract. This obligation is critical as it ensures that the buyer makes payments according to the agreed-upon terms, which commonly include the principal and interest on any mortgage. Failing to adhere to these payment arrangements could lead to serious consequences, including default and foreclosure. Therefore, once the closing occurs, the buyer must commit to this payment schedule as part of their legal and financial obligations.

The other responsibilities do not align with the obligations of a buyer post-closing. For instance, someone cannot control external factors like mortgage rates, and while it is beneficial to stay in contact with real estate agents, it is not a defined post-closing responsibility. Similarly, the management of property taxes typically falls under the buyer's own responsibilities rather than managing them for the seller, since the buyer now owns the property and assumes responsibility for its associated costs. Hence, sticking to the payment plan is the clear and essential responsibility outlined after the closing process.