The Closing / Settlement: Overview
The sales contract states what is being sold and for how much, plus what is expected of you and the buyers in order to complete the sale. Read through the contract yourself even if your home is listed.
The closing (settlement) is the formal process when you receive the sales price for the house (minus appropriate deductions and expenses), and the buyers receive title (ownership). Details of the actual closing depend on state law and local custom. This final step discusses how real estate specialists complete the paperwork phase of your sale, the role of the earnest money, possession considerations, ways buyers can weasel out of the contract, etc. Prior to the close, your home will be scrutinized by inspectiors, an appraiser and at the buyers’ walk-through. The Close section helps guide you through potential problems that can arise in all of these steps that lead up to the closing (during what's called the escrow period or when your home is under contract).
In addition, we’ll evaluate considerations for engaging an attorney (even if you are listed) and provide you with a checklist for a smooth finish.
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