The Closing Process When Selling a House
Finalizing the sale. (It's almost over!)
Also known as "settlement," the "closing" is when you get paid and the buyer receives the deed to your home—in other words, a transfer of ownership, or title, takes place. It's the time when all the contract details are finalized and all the agreements between you and the buyer are executed.
Remember, since the contract you already signed defines what happens at closing, an attorney is very limited in how much he or she can help if you simply ask him or her to "show up at closing." At that point, the game's over—all the obligations and responsibilities have already been defined and agreed to in the contract. That's why it's so important to involve your attorney early on.
Let's break down the process into three parts.
Discover what your responsibilities are during this important and hectic phase.
What should you expect on closing day? What's "transfer of title" all about? Find out here.