Now that the home inspection has been completed and
the Purchase and Sales agreement is signed by both the buyer and the seller,
the next step is to close on the transaction.
The closing process, also know as "settlement", "escrow" and
"passing papers", is a simple
process in which the title of the property is transferred from the seller to
the buyer. During the closing the closing attorney will have you sign various documents
such as your mortgage agreement and the deed. Once you
sign all of your documents the sellers have signed their papers, then you
get the keys to your new home and the sellers get their proceeds.
At Easton Real Estate we have Closing Coordinators
that specialize in getting your transaction to the closing. Our
Closing Coordinators along with your agent help you to coordinate with the
other real estate agent, mortgage person, seller, closing office and anyone
else needed to successfully close on your purchase.
Below are items that you need to know about and/or
will need to prepare for the closing.
Your Final Payment
The closing office will provide you with the final amount you need to
bring to the closing. The figure may not be available until the day
before the closing, and in some cases, not until the day of the closing.
When you do get the figure, you will need to get a bank check
or cashier's check in this amount, made out to yourself.
At the closing, you will sign the check over the the closing office.