The Closing Process
On the day of the closing or perhaps the day before, the buyer will request a final walkthrough of the home. They are looking to ensure it is as they saw it during the inspection. The home needs to be presented to the buyer in “broom clean condition” or better and all personal property removed from the home. This can include all paint cans; we may want to ask several weeks in advance of the closing about leaving certain items.
This is where the physical transfer of the property goes from the seller to the buyer. Usually both the buyer and seller are present along with each agent in the transaction. There will also be two other people present, these are the title closers representing the buyer and seller. Here is the closing process:
Expect the closing to last 45 minutes to an hour.
This is where the physical transfer of the property goes from the seller to the buyer. Usually both the buyer and seller are present along with each agent in the transaction. There will also be two other people present, these are the title closers representing the buyer and seller. Here is the closing process:
- Once you arrive, introductions are made for all parties’ present
- Title closers will go through the Settlement Statement with both parties
- Each closer will begin to have buyer and seller sign documents (if you would like to read
- through the documents, request them 24 hours before the closing)
- Once the documents are signed, the mortgage company will issue a funding wire
- After the funding wire has cleared the Federal Reserve system, a check is written to you
- You hand over all keys and garage door openers for the property to the new owners
- The closing is complete
Expect the closing to last 45 minutes to an hour.
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