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The Closing
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What to Expect In The Days Before Closing |
| Closings usually occur thirty to ninety days after a signed Purchase & Sale Agreement. In the period leading up to closing, the buyers and their homeownership service providers are normally focused on removing contingencies, which would include conducting inspections and processing the mortgage application(s) |
| The home buyers should also begin planning to move their personal goods. |
What to Expect At Closing |
| All parties will be present or represented at the closing for final review and signing of papers. Closings are administered by a Closing Attorney or Settlement Agent. If the seller cannot attend, there are alternative arrangements, which typically involve signing papers in advance, and/or granting Power of Attorney to their representative. You will be asked to sign the mortgage and any other papers that the lender, and/or other interested parties, may require. If you are financing the purchase through a lender, the lender's attorney will often be present, in order to review documentation and protect the lender's interests. At conclusion, the lender's attorney will record the new deed and mortgage, and discharge all previous obligations of the seller.
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