Closing the sale is the final step in the real estate sales process, where the ownership of the property is transferred from the seller to the buyer. Here are some more details on Closing the Sale:
- Attend the closing: The closing is typically held at a title company or other location designated by the buyer. The seller should plan to attend the closing and bring any necessary documents or items, such as the keys to the property.
- Sign the necessary documents: At the closing, the seller will be required to sign a number of documents related to the sale, including the deed, bill of sale, and the closing statement. The seller's real estate agent will typically be present to assist with this process and answer any questions.
- Receive payment: Once all of the necessary documents have been signed and any outstanding fees or expenses have been paid, the seller will receive the proceeds from the sale. This may be in the form of a cashier's check or a wire transfer, depending on the preferences of the parties involved.
- Transfer ownership: The seller will transfer ownership of the property to the buyer by signing the deed, which is then recorded with the county or other appropriate agency. The buyer will also typically receive the keys to the property at this time.
- Close out any outstanding obligations: After the sale is completed, the seller should close out any outstanding obligations related to the property, such as cancelling utilities or homeowners insurance.