Ep120 “What Happens at the Closing?!”

Welcome back everyone to “The Really REAL Real Estate Podcast!” The day has finally arrived! The inspections are done! The house has appraised! The sellers have moved all of their belongings to their new home! The buyers have been approved for their mortgage and the lender has given the clear to close! It is officially time to wrap up the real estate transaction and conduct the closing! It is not uncommon for buyers and sellers to frequently ask, “what exactly happens at the closing?!” Today, we are going to walk you through exactly what to expect when it comes to the closing itself on your home that you are buying or selling! TALKING POINTS (3-5): - Introduction - What is the closing? - The final step in the real estate transaction - Buyer and seller sign all of the necessary paperwork - Buyer takes official title and possession to the property (unless a post-settlement possession addendum was agreed upon ahead of time); Seller receives their net proceeds ***Different states have different processes for the closing day – not every state has the buyer(s) taking possession of the home on the day they close. Check with your local realtor to find out how your state handles the closing process.*** - Who all attends closing? - Buyer(s) - Seller(s) - Listing and Selling Agents - Title Company Representative - Lender - When does closing happen? - Normal business hours - Some exceptions occur - How long is closing? - If all goes according to plan, one hour - What happens at closing? - Title company representative runs the closing - IDs for buyer(s) and seller(s) are copied - Buyer signs the lender documents, if applicable - Buyer and seller sign title documents including the deed - Buyer gives the certified funds to the title company representative - Seller(s) gives the buyer(s) the keys to the house - Seller(s) receives their net proceeds; agents receive their commission checks - Closing ends! - What happens if the seller can’t come to closing? - Final thoughts HASH TAGS: #closing #finalstep #wemadeit LINKS: JASON: https://jasonwilcox.cbintouch.com/ https://www.zillow.com/profile/jasonwilcox1987/ https://www.youtube.com/channel/UCrRksfKiMNteHKYRYrinAug?view_as=subscriber https://www.facebook.com/jason.wilcox.186 https://twitter.com/jason_wilcox1 https://www.instagram.com/jason.wilcox1/ CONTACT INFORMATION: JASON: Cell Phone: 412-651-4638 Email: [email protected]