Do you know what to expect when you enter the final stage of your real estate transaction, known as the closing? While laws and requirements can differ from state to state, following are some tips to help ensure a clean closing.
- Be prepared. Listen to your Realtor and real estate attorney and bring all necessary documentation with you. Before closing, the buyer should be sure to review the closing disclosure which outlines the terms of your loan.
- Your participation is required. During the closing you will be asked to sign a variety of legal documents, and the buyer will be required to pay all associated closing costs.
- Protect your paperwork. Also during closing, you will receive several important documents that you’re going to want to keep very safe and secure. That documentation might include your loan estimate, closing disclosure, escrow statement, mortgage note, deed of trust and certificate of occupancy.
The key to a successful closing? Communicate! Keep open the lines of communication with your Realtor, lender, attorney, etc., and be sure to ask if your have any questions or concerns. For more information, please contact The Olear Team today!