and inform the person selling the house, the escrow company, and the lender that everything has been completed. At this point, the seller gets into contact with the lender so that they can arrange a mortgage payoff. He gives the lender the name of the escrow company, which is supposed to come up with the closing statements. During that time, the buyer of the house is supposed to be working on getting his mortgage pledge completed. The seller must notify his home insurance firm about the impending sale of the house. If the house is a townhome or a condo and is affiliated with a homeowner’s association, the buyer must have an interview with the homeowner’s association. If needed, the seller should arrange for association documents to be made available to the buyer. At this point, the seller and buyer receive the Department of Housing and Urban Development HUD-1 settlement. This is supposed to happen at least 24 hours before closing. The HUD-1 settlement contains details about the exchange of money from the buyer to the seller. Any financial information recorded on the HUD-1 settlement should be agreed upon by both parties before they meet at the closing table. At the closing table, the buyer
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