The Closing
-
The first part of the closing is the closing of the buyer’s mortgage. This usually takes about 30 to 45 minutes. As the mortgage documents are highly standardized, and non-negotiable, the buyer is not expected to carefully read the documents at the closing. The attorney should provide a brief description of each document, along with its legal ramifications, as each document is presented for signature, and will answer any questions about the documents.
-
The second part of the closing is the closing of title. The seller’s attorney will provide a Deed which transfers ownership of the home to the buyers, along with other necessary documents. The buyers will get keys to the home and the sellers will receive the funds due to them.
-
If everyone has done their job properly the closing should be the easiest part of the entire transaction. We will have all necessary documents, including the settlement statement, prepared and reviewed in advance of closing. We will also have the Deed and other seller documents reviewed and approved by the title company in advance of closing.
-
Once the closing is concluded, the home is yours. You can start moving in right away.
