The Real Estate Closing is sort of like the “Super Bowl” in real estate. It is the days you officially become a real estate owner.
This process is very exciting and usually involves a lot of paper and pens with a lot of ink on a conference room type table.
But what exactly are you signing if you are becoming a new owner and what is involved?
Here are a few typical things:
- During that day the buyer’s lender sends funds to the Title and Escrow Company. This is the money that will go to the buyer to pay for the property once all the paperwork is signed and everything has been filed.
- Copies of a Government-Issued ID such as a Driver’s License are taken to ensure all identities involved in the transaction are accurate.
- A Title Company representative will explain all the documents including the mortgage and deed with the buyer as they are signing them and answer any questions should there be any.
- All paperwork after signing will then get notarized.
- An updated title search will take place to confirm one last time of any potential title defects.
- The deed and mortgage are then recorded with the county.
- Escrow funds at this time will be distributed.
- Finally, the keys are provided and you are the new owner of a property.
By using a reputable company such as Alliant Title and Escrow in your real estate transaction will simplify an often-complicated process. Everything is handled in-house which makes everything much smoother.
For additional questions on the closing process and how Alliant Title & Escrow works call us at 561-912-0922.
And, congratulations on your new purchase!