Time line and Closing Paperwork

The Closing Paperwork generally consists of the following documents: 

  • Deed - A legal description prepared by an attorney to transfer and record, in public records, ownership of property.
  • Title Insurance Policy and Certificate of Title - This coverage is issued by a title company after completion of the title search. They check to see if there are any judgments, liens or attachments that need to be paid to `clear' the title. After checking on unpaid taxes and assessments, the attorney provides a certificate of title to lender and buyer.
  • Homeowners' Insurance Policy - New home buyers must obtain a binder for new coverage on the home, and the seller is generally required to keep the property insured against loss or damage prior to the Closing to protect the new buyer's interests.
  • Mortgages - The mortgage contract gets recorded to protect the mortgage lender's interests. When a mortgage is paid off (also known as 'satisfied'), the home buyer will receive a copy of the mortgage discharge which is a document that indicates that the mortgage has been paid in full.
  • Property Tax Bill - Homeowners will supply a copy of their property tax bill to the home buyers; if not, a copy can be obtained from the town or city hall Assessor's office.
  • Warranties and Service Records - Home buyers appreciate these records, if available from the home sellers, as they can aid in obtaining satisfaction if a product or service fails within the given time or usage limits.
  • Plot Plans and Surveys - An up-to-date survey will be required for the closing. You can look up a the current plot plan at the town hall and obtain a copy for a nominal fee.
  • Water and Sewer Bills - Proof of payment by the seller will be required for the Closing.
  • Be realistic. Markets differ by location and time. When interest rates are low and the local job base is growing, it's great to be a seller. But when times are slack and mortgage rates are rising, homes also sell. The trick is to be realistic, to get as much as market conditions will allow.
  • Utilities Records - Homebuyers generally arrange for services to be changed the day of or day after your Closing. Check with each service provider to determine how they handle requests and what is required for final readings and new service setups.

To learn more about selling your properties and getting FREE and NO OBLIGATION property value, contact one of our knowledgeable ASSOCIATES or email us at SELLINGINFO@SBAREALTY.US We look forward to partner up in servicing your real estate needs.

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