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# 9 Closing  

Closing is where ownership of the home is legally transferred from the seller to the buyer. It is a formal meeting in which most parties involved in the buying/selling process will attend. Closing procedures are usually held at the title company's office or lawyer's office. Your closing officer coordinates the document signing and the collection and disbursement of funds.

In order for the closing to go smoothly, each party involved should bring the necessary documentation and be prepared to pay any related fees (closing costs). There may be more than one form of acceptable payment for your closing costs so ask the closing officer which form of payment will be required and to whom it should be paid.

Sellers sometimes pay for a portion or all of the closing costs, depending on local market conditions, terms of the purchase contract, and the seller's cash and timing considerations. Any such concessions should be acknowledged in writing. Most lenders will allow a credit from the seller to the buyer for the non-recurring closing costs. However, they usually won't allow a credit that reduces the amount of the buyer's down payment or any of the buyer's recurring costs, such as expenses for fire insurance premiums, Private Mortgage Insurance (PMI), or property taxes.

Shana can save you time and money by being present at the closing reading the documents on your behalf and answering any questions or helping to resolve any issues that may come up. She will also be available to manage any last minute or unexpected details that come up.

 


10 Steps to Buying Your Home

 Needs Analysis

 Preapproval vs. Prequalification

 Neighborhood Information

 Home Search

 Making an Offer

 Negotiating to Buy

 Vendor Coordination

 Pre-close Preparation

 Closing

 Post-Closing


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All information provided is deemed reliable but is not guaranteed and should be independently verified.