The closing is an important day for you as a home seller. Months of hard work and delicate negotiation are about to come to an end. However, before you can hand over the keys and potentially get a check, you must get through the last stage of the home selling process.
The closing of your Kirtland OH home represents the legal transfer of your property’s title. It is an exciting and often emotional milestone for buyers and sellers alike.
The real estate closing is often referred to as settlement because the seller, together with the buyers, the buyers’ lender, the sales agents, and the seller’s lender, are “settling up” among yourselves and all the other parties who have provided services or documents to the transaction.
It is the process by which the title of the property is transferred from the seller to the buyer. There will also be a final distribution of funds. You, as a seller, will receive a check for your equity after expenses. The real estate agents will receive a check for their commissions.
Closing procedures vary from state to state and even county to county, but the following parties will generally be present at the closing:
Here is the gist of what usually happens during a real estate closing:
Once at closing, you’ll sit down with the buyer and their agent to sign all paperwork required for the closing of your home. In most cases, the buyer has the most documents to sign because they are the ones that are getting the loan. Some buyers pay cash. If the buyer is paying cash for your house, they will only have one or two forms to sign.
Once your home’s closing is complete, it’s time to wrap things up. You will receive a package of closing-related paperwork to pack away, along with a check for the proceeds of the sale.
I am Christine Pappas, your REALTOR® in Ohio. If you’re looking to sell your home, you can count on me to make your experience easier!
Call me now at 216-956-7635 and let’s get started!