What To Expect At Closing
At closing, escrow payments and closing costs are taken care of as well. Next, the buyer will need to sign the settlement statement that addresses the costs related to the home sale. The buyer’s signature is also needed on the mortgage note statement that keeps the buyer accountable of repaying the loan with agreed terms, such as monthly payments over the term of the loan and consequences.
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What to Expect at Closing Out of the entire home purchasing process, closing costs are often the least understood pieces. Because of that, we will take the time to address your questions and offer answers.
Closing the real estate transaction is basically the investigation made or actions taken by either a title agent or title attorney before the actual issuance of the title policy. There are five basic steps that usually followed in somewhat the same order in every real estate transaction.
The date of closing is typically set in the offer letter as most sellers will want to know when they can expect the closed sale once the home is under contract. Typically, closing is set 30 to 60 days from when offer is accepted, although this can change depending upon a variety of factors, including inspections and paperwork processing with the lender.
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What to Expect at Closing. Flexibility. We understand that there are occasions in which the parties may not be able to close during normal business hours, and sometimes, not even at our office. We go the extra mile to make the transaction work in a way that is most convenient for all parties.
The closing is an important day for you as a home seller. You will transfer the property to the buyer, fully pay off any mortgages, and receive your sales proceeds. If you are using the proceeds for a new home purchase on the same day or shortly thereafter, it is particularly important that your closing runs smoothly.