What to Expect In The Days Before Closing
Closings usually occur thirty to ninety days after a signed Purchase & Sales Agreement. In the period leading up to closing, the sellers and their homeownership service providers are normally focused on preparing for the closing, which would include making the house available for inspections, preparing the deed, and moving. The home sellers should also begin planning to move their personal goods.
What to Expect At Closing
All parties will be present or represented at the closing for final review and signing of papers. Closings are administered by a Closing Attorney or Settlement Agent. If you cannot be at the closing, alternative arrangements can be made, which typically involve signing papers in advance, and/or granting Power of Attorney to your representative. All closing expenses will be discussed in advance of the closing, with the closing attorney or settlement agent, as the final figures are prepared. You will be asked to sign the deed and any other papers that the lender, and/or other interested parties, may require. If the buyer is financing the purchase through a lender, the lender's attorney will often be present, in order to review documentation and protect the lender's interests. At conclusion, the lender's attorney will record the new deed and mortgage, and discharge all previous obligations of the seller.