Just prior to the real estate closing there will be a final walk through or inspection at which you and your realtor will do an inspection of the premises to determine if the seller has left the premises in broom clean condition, removed their personal items and made any repairs required. If any issues remain, you may agree on a credit and/or hold money back in escrow until such time as the repairs are made. If all issues are resolved you will proceed with your closing.
The real estate closing is usually held at the office of the buyer’s attorney. This is because you must close your loan before you can buy the house. First, you will meet with your attorney and close your mortgage which is basically the signing of many documents, most important being the HUD-1 Closing Statement, Mortgage Note and Mortgage.
After you have closed your mortgage, the seller and his/her attorney will show up and conduct the title closing at which you will receive various documents and items, most importantly the Deed, in exchange for payment. You will also receive keys, garage door openers and security codes.
Contact Franklin Montero for more information.
