Getting To Your Closing
A property closing involves the transfer of payment for a real estate consideration. There are multiple parties involved in a property closing transaction that includes the listing agent, the buyer agent, attorney and title company. Depending on the state your are purchasing property in and depending on the scope of the purchase, an attorney may or may not be neccessary. It is recommended, if it's in your budget & not mandatory.
Steps to take for closing preparations:
- Your agent should double check all documentation needed is confirmed prior to closing
- Scheduling a proper closing date that is beneficial to both parties is recommended
- Make sure all needed inspections are completed and reports available
- Your agent should make sure that there are no roadblocks prior to closing
Title, Lenders & Government
In a property escrow, all parties involved execute their part of the transaction for a successful closing. The title company will make sure that the buyer's title is recorded in all local records deamed neccessary for transfer. The lender will also record their loan in the public records. The local state government will collect their transfer taxes imposed by the state and your agent confirms all documentation or last minute credits to the owner or buyer are properly established.
Beyond Your Closing
One of the most important objectives to keep in mind when looking at your days beyond the closing date is the move out date. It can become a daunting task to manage your move out and the buyers move in date. Both parties involved have to move out of a previous home and into a new one. Managing the logistics of that may need some third party assistance.
- There should be an agreement between the buyer & seller on an equal beneficial date for both parties
- If the date does not coincide between both parties, it may be wise to make room for a temporary storage unit
- Prepare a fun house warming party
- Begin to enjoy your new and beautiful home sweet home!