documents in advance of the closing day electronically to read and sign. Then when closing day comes, there may be only a few things for either party to sign. What exactly happens during the closing? It involves everything needed to make the home sale and home purchase complete, legal, and finalized. The closing process is meant to bring all the parties involved to the same platform. The main goal of the closing process is to transfer the title of the property from the former owner (seller) to the new homeowner (buyer). First, you must check and carefully inspect the property personally before beginning the closing process to ensure nothing has changed about the home’s condition following the signing of the contract, or the purchase agreement. If something has changed, you need to tell your agent and go back to the drawing board (negotiations). What’s involved in the closing process? • Title insurance; • Property transfer taxes paid; • Settling all other claims, including closing costs, legal fees, adjustments; • Finalization of home loan documents; • A professional meeting with both buyer and seller, along with their agents, signing all required paperwork so the home can be transferred from seller to buyer; • The closing agent must subtract funds required to pay existing mortgages as well as ensure all the documents and paperwork are prepared, signed, and submitted to the appropriate offices and agencies. The final result of the closing process is that the buyer obtains the title to the property, the seller receives the payment, the agents receive their commissions, the lenders’ loans are fully documented in the public records, and the state government
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