Estate Service Times...Two”
almost finished. The preparations are all complete - now it's time to
finalize the sale.
Check with your attorney
or escrow agent a day or two before the closing date to confirm that
everything is on schedule. Remind the attorney or agent to complete
the closing statements and other documentation in advance - this may
seem obvious, but closings often become protracted affairs because the
professionals are unprepared.
Have Your Paperwork Available
Bring all of your documentation to the closing in case you need
something at the last minute. Your closing file should include the contract,
receipts for any repairs made, and copies of all correspondence relating
to the purchase.
the Closing Documents
Review the closing statement (HUD-1) and other documents beforehand
so you understand the purpose of each. Your primary documents are the
closing statement, the deed, and the mortgage cancellation paperwork.
With Any Problems
Closings frequently proceed without a hitch, but problems are not uncommon.
Don't panic if the closing hits a snag - most issues can be resolved
by simple means, such as escrowing funds to
cover a contingency or unfinished repair. Even if the closing has to
be postponed, don't overreact - chances are the matter can be resolved
in a few days.
At this point the parties should execute the closing statements and
other documents - and you will then sign over the deed. Congratulations,
you've just sold your house!
Keys and Documents to the Buyer
You should have the keys available to give to the buyer at the closing.
Additionally, you should provide all warranties, repair records, etc.
pertaining to the house - either bring these to the closing or leave
them in an accessible location in the house.
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