If you’ve never been involved in a real estate closing, it can be a fairly intimidating process – especially if you are the buyer. While a closing doesn’t typically take very long, it can seem like there is an endless stack of paperwork for you to sign and items that you need to verify.
If you’re on the buyer’s side of the transaction, you will have documents to go over, such as the settlement statement, as well as any paperwork that has to do with your new loan. You will also need to bring with you a cashier’s check in the amount of the down payment and / or any closing costs that are due.
From the seller’s side of the table, you will need to verify that you are in fact the owner of the property, and that you are selling it for the negotiated price. (If the home sells for less that you owe on it, you will also need to have a check in hand for the difference).
As either the buyer or the seller of property, a real estate closing can come with some nice rewards. For instance, as a seller, you may be on the receiving end of a check – or a certain amount of money that can go towards the purchase of another property. And, as a buyer, the closing process is where you will be handed a set of keys to your home.
If you’re considering the purchase and / or sale of a home, give us a call. In addition to working with you on finding a potential buyer or a new abode, we will also walk with you through the other aspects of the real estate transaction, such as negotiating with the other party, and setting up the necessary events such as the home inspection. Regardless of what side of the closing table you’re on, you will know what to expect, making the process seem much more seamless.