What Is a Real Estate “Closing”?

ContractA real estate “Closing” is where you and I meet with some or all of the following individuals: the Seller, the Seller’s agent, a representative from the lending institution and a representative from the title company, in order to transfer the property title to you. The purchase agreement or contract you signed describes the property, states the purchase price and terms, sets forth the method of payment, and usually names the date and place where the closing or actual transfer of the property title and keys will occur. 

If financing the property, your lender will require you to sign a document, usually a promissory note, as evidence that you are personally responsible for repaying the loan. You will also sign a mortgage or deed of trust on the property as security to the lender for the loan. The mortgage or deed of trust gives the lender the right to sell the property if you fail to make the payments. Before you exchange these papers, the property may be surveyed, appraised, or inspected, and the ownership of title will be checked in county and court records.

About a week in advance, I will schedule the real estate Closing with you and the title company. We will meet at the title company on the day of closing, sit in a conference room with an escrow officer (who is also a notary), and you will sign the legal documents to purchase the home.

You will need to bring your driver’s license with you to the real estate Closing. At closing, you will be required to pay all fees and closing costs in the form of “guaranteed funds” such as a cashier’s check.  Your agent or escrow officer will notify you of the exact amount at the day before Closing.

 homebuyingcosts

 

Buyers: What To Bring to Your Closing Appointment

Here’s the minimum of what to bring to your “Closing”:

  • Photo ID
  • “Good funds” for your down payment and other costs: typically
    a cashier’s check or wire transfer—never cash

 


 

 


Buying & Selling Real Estate Is a Huge Investment
Don’t You Deserve a Five Star Real Estate Agent?

Sheila Cox
832-779-2890

Sheila Cox Realtor
Author of KatyHomesForSaleTX.com…so you know that I know this area! Winner of Five Star award every year since 2010.


REALTORS DON’T “JUST” SELL HOUSES

Real estate agents don’t “just” sell houses; we sell a SERVICE to effectively guide home buyers and sellers through the entire real estate transaction, which usually takes several months. We are more like real estate consultants than we are salespeople. That’s probably why 86 percent of all home buyers and sellers choose to hire a real estate agent when buying or selling a home!

Buying or selling a home is not like buying or selling a TV, a computer, or a car. You can’t buy/sell a home on the Internet with a couple of clicks. There are MANY legal aspects, deadlines, and requirements that most people are not trained to handle. What’s more…mistakes along the way can cost you thousands and even hundreds of thousands of dollars. The financial risk is much greater than just about anything else you may buy.

That’s why you need your own dedicated, experienced real estate agent
looking out for YOUR best interests.

Please read the list of my value-added services for home buyers


FREE GUIDES & REPORTS by Sheila Cox, Five Star Realtor

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Katy Flood Report
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Why You Should Hire Sheila Cox As Your Agent

sheila cox five star realtor5Integrity—I promise to give you candid opinions on all homes and areas so you can make the best decisions. I won’t ignore potential defects that can cost you money, or effect your resale value, in the future…I point them out to you! My job is to protect you, as much as possible, from defective homes while helping you make a sound financial investment. You will get more REAL info from me regarding homes/neighborhoods than you ever had before! (Read client testimonials)

Local Area Expertise—This isn’t just my business…it’s where I work and live (for 20+ years) so I really know the area. I will help you narrow your options and find the best neighborhood for you based on your specifications. For long-term resale value, the neighborhood you choose is just as important as the home you buy. (Download my Ultimate Katy Guide)

Great Pricing Data—I will give you the most in-depth data you have ever seen…to help you make the wisest decisions. This includes a professional CMA when you are ready to purchase a specific home…so you don’t pay too much. You can’t get this level of pricing information anywhere else. (Also see Pricing a Home Correctly)

Premium Customized Home Searches—Yes, you can search on your own, but no other home search available can filter down to the school level…and filter out the subdivisions that may be known to flood. Plus my search includes “Coming Soon” homes not listed on other  websites. (Request a Premium Customized Home Search)

Video Home Tours—If you or your spouse lives out of the state or country, then you will enjoy my detailed video home tours. I have sold multiple homes to out-of-area clients “site unseen” by providing High Definition video walkthroughs of potential homes. My videos show front and back yards, closets, pantries, laundry rooms, and the garage…as well as the entire home. This gives you a complete picture of the house (unlike those silly Matterports). I also point out any potential defects or deferred maintenance that I see. (view sample video walkthrough)

Easier Process—Moving your family (and possibly changing jobs) is stressful enough. I’m your transaction manager and will guide you, step-by-step, through the process so you never miss an important deadline. I assist with inspections, repair negotiations, home warranties, HOA compliance inspections, hazard insurance, surveys, appraisals, title commitment, home warranties, title commitment, and more. (Get Details of My Value-Added Services)


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