THE CLOSING PROCESS
The most common type of closing has both the sellers and the buyers of the home sitting at the closing table. A closing agent from the title or closing company is also present to guide all of the parties through the closing process. Closing on a home requires a lot of signatures on many legal documents, by both the buyers and the sellers.
The bottom line is that the paperwork you sign ultimately transfers ownership of the home. For the buyer, the closing also involves signing the promissory note and mortgage documents. These documents have you acknowledge that you owe the lender the agreed upon amount for the mortgage. After everything is signed and certified, or when cashier’s checks are collected, the closing agent makes copies of all of the documents that pertain to you.
The seller then hands over the keys, garage door openers, and any other access information to the buyer, and the deal is done. The buyer is now the proud owner of the home. The seller walks away with a check for the profit of the home sale and everyone walks away from the closing table with what they came to receive. Mission accomplished!
What to Bring
Your mortgage loan officer and title company representative typically provide you with a list of precisely what you need to bring. The list will be different for sellers than it will be for buyers, but there is some overlap as well.
- Each buyer needs a government issued photo I.D., such as a driver’s license
- Certified or cashier’s check for the closing costs that you’ll owe.
- Any outstanding documents or paperwork that you have not yet provided to the title company or mortgage loan officer (i.e., condo approval letter or originals of copies you’ve provided of other documents)
AFTER THE CLOSING
While the Closing may mark the end of the purchase process, I hope it will mark the beginning of our ongoing relationship. I make a concerted effort to keep in touch with my clients and to continue to be a resource for their real estate and neighborhood needs. And of course if you need referrals for plumbers, electricians, and other service professionals, I am always happy to provide you with a list of trusted vendor.
YOUR REFERRALS ARE KEY!
Maintaining ongoing client relationships is part of my commitment to provide a level of real estate service well above and beyond expectations. My clients share their positive experience with friends and associates who then seek me out. This has allowed me to build a successful real estate practice based on referrals. As a result, I can devote more of my time to helping clients and less looking for new ones. If you are happy with my service, I hope you will spread the word and send people my way so I can help them the same way I helped you.