You're starting a family. You have accepted a job offer in another city. You need to downsize from your large home. There are many reasons why you may have decided to sell your home. Ultimately, you want to get the most from your investment and get through the sale as smoothly as possible.
The most important thing you can do before a closing is to make sure that everything is prepared and ready to go.
Are all necessary papers and documents ready and in the hands of the right parties?
When and how will you be paid?
Are you buying another property? You may want to have both closings at the same office scheduled back-to-back. By doing this, the timing of the disbursement is not a problem. You can assign the funds from the sale to the purchase.
Make sure to allow at least one to two hours for a closing. The borrower side is the more time consuming part of the process so some agents may advise that you arrive 30 minutes after the scheduled closing time to allow time for the buyer to sign the loan package.
At the beginning of the closing, the closer will make a copy of your valid ID. The closer will review with the seller and the buyer, the settlement sheet and will answer any questions. The buyer and seller will each sign the settlement sheet.
All real estate documents are reviewed for accuracy and are signed. The Warranty Deed will officially transfer the title from the seller to the buyer. The buyer reviews their new lender loan package and signs all appropriate documents.
The closer will distribute the checks to the appropriate parties. All seller proceeds must be made payable to the owner of record. Cashier's checks are typically issued for seller proceeds. If you would like a wire transfer please contact your bank for instructions to bring to the closing (some banks will charge to receive a wire transfer).
The closing agent will offer you three choices on how you would like to receive your signed closing documents:
After the closing, the closing agent immediately records the Warranty deed, the Deed of Trust and other pertinent documents with the county clerk's office.
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