CLOSING

We meet for a final walk-through . . . of your new home within 48 hours of the closing, most often immediately beforehand. This is to make sure that the seller has vacated the property and left it in suitable condition.

It's also to confirm that no disaster has befallen the house that would make it unfit to purchase. We then proceed to the location that's been selected for the closing. If there are any issues that might impede the closing such as trash left on the premises, we'll advise your lawyer immediately.

Typically, you, the buyer . . . meet with your lawyer about 45 minutes before the arrival of the seller and seller's attorney. Sometimes, the seller will have signed all necessary documents in advance and will not attend the closing. You, on the other hand, have many mortgage documents to sign.

As you go through them . . . your attorney will explain them to you and make sure that they are properly executed. You should receive copies of all the documents and plan to keep them secure for at least as long as you own the property.

Once the mortgage documents are completed . . . you're joined by the seller, seller's attorney and, in all likelihood, both of the Realtors® who've been working on the transaction. The seller signs a few documents including, most importantly, the deed.

The deed is the document . . . that transfers ownership of the property to you and that transfer occurs at the moment that the seller signs it. You receive keys to the house and, finally, it's yours!

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	© 2005-2008, William Bixby.
	The opinions expressed on this website are not necessarily those of the H. Pearce Real Estate Company. The market data presented on this website is deemed reliable but is not guaranteed.