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A closing agent-usually an attorney or official from a title or mortgage company, and not to be confused with your real estate agent-oversees this process, which typically takes place at a title company, escrow office, or your home. The mortgage closing process varies from state to state.
10 Steps of the Home Buying Process – Contract to closing.. CLOSING ATTORNEY: When the loan is approved, an attorney specializing in real estate must be selected to prepare for and conduct the closing. The closing attorney is selected according to the contract and the lender’s requirements.
What Happens During Closing When a House Is Sold for Cash? Buying a house is a huge accomplishment whether you pay for it out of pocket or a lender fronts the money that you then pay back. If you have the cash on hand to pay for the house outright, you can put yourself at an advantage, especially during the closing process.
The steps to buying a house takes a lot of time and effort, but these 10 steps can make the home buying process simpler. Read our 10 steps to buying a house
What happens at the closing? The "closing" is the last step in buying and financing a home. The "closing," also called "settlement," is when you and all the other parties in a mortgage loan transaction sign the necessary documents.
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Closing is the final step-before that house is finally freakin’ yours! Your closing date is the day you become the legal owner of your new home. During the contract negotiation phase, you (the buyer) and the seller set a closing date, which must be listed on the purchase agreement contract.
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In simple terms, home closing is the last chapter of this long home buying process. This is where you sign off on the deal and transfer the last of the funds. At the end of closing, the deed will be recorded, and the home will be yours.
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