Preparing for Closing

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There are a number of things to do before the Closing date.

 

  • Set the closing date.
  • Meet conditions of the loan offer.
  • Buyer’s attorney will run a title search to make sure the buyer received “clean title”, which will ensure that the seller owns the property and that there are no liens filed against the property.
  • Obtain homeowners insurance to protect the owner (and the lender) from losses in the event that the house is damaged or destroyed.
  • Final walk-through inspection before closing.

The closing will take place within 30/45/60 days from contract signing, depending upon what terms have been agreed. If paying cash, then a 30-day closing is more likely. If obtaining a mortgage, the buyer will likely get up to 60 days, with the average being 45 days.

THE NEXT STEP IS THE THE CLOSING