Once you and the seller have a written contract, the final meeting where ownership is transferred from the seller to you is called “settlement” or “closing.” At closing, which usually occurs at a title company or lawyer’s office, all of the appropriate documents evidencing a transfer of title, including any mortgage and other related documents, are signed by the parties and, as necessary, monies are collected. Shortly after closing, the title company or lawyer records the transaction in the county property records and distributes copies of the executed documents and monies to the parties. An experienced and attentive agent like Tauber Real Estate Services is a great asset for you at closing, as we will explain the process and the documents, answer any questions you may have, and make sure that you understand every document you are signing. But even before closing, many tasks remain to be done and we will help you through that process and insure that the deal gets to the settlement table successfully. Here are just a few of the more salient activities that must occur to get your deal to closing, all of which your agent should monitor:
- Make sure contract is complete and distribute copies to buyer, seller and other agent
- Schedule and coordinate home, termite and any other inspections required by the contract and track to completion
- Monitor satisfaction and removal of any contract contingencies
- Make sure the status of listing is changed in MLS
- Make sure loan application is timely filed and monitor status to approval
- Coordinate home appraisal
- Obtain HOA/Condo documents
- Schedule closing date and time and inform parties
- Make sure buyer has appropriate homeowners insurance
- Notify utility companies of change of ownership and coordinate with seller and buyer
- Schedule pre- and post-closing walk throughs, as required
- Recommend movers and confirm move out/move in dates with parties
- Make sure parties have all closing documents to review before closing
- Attend closing