We're on the home stretch. We're past inspections, appraisals, financing, EVERY step is done, the only thing left is to complete the sale of the home. That involves paperwork and an event called "the closing".
In our section of Ohio, that's USUALLY a face to face meeting facilitated by a real estate attorney or a title company representative. If it's a cash deal, it'll be pretty quick since there's not a ream of paper to sign to make the bank happy!
But most often, there IS a loan, so expect to spend 30-60 minutes at closing. Attendees will typically be the buyers, the sellers and the title company rep/attorney. Optional are the real estate agents for both sides (although they'll USUALLY be there), and perhaps the buyer's loan officer.
The closing is typically held in one of two places: the title company or the office of the buyer's agent. However, if it's more convenient, there are other options (e.g. the listing agent's office or the office of the loan officer).
However, there's another option, and that's a remote closing. For instance we recently had buyers visit town, find their next home, complete the key steps needed and then returned to Oregon. They weren't going to be back before closing, so the title company Fedexed them the documents to sign. The buyers sign and send back. Everything was accomplished without the buyers or sellers ever meeting in person.
Once the closing documents are signed, the seller provides the keys (and garage door opener and pool pass and anything similar) to the buyers. Typically, there's some more conversation as the buyers ask any last questions and the seller passes on any tips about the home.
Unless the contract arranged differently, the seller should have already moved out and the home now officially belongs to the buyers. Time to meet the moving truck!
Need help buying or selling a home? Give us a call at 513-520-5305 or email Liz@LizSpear.com. We look forward to hearing from you!
Serving Greater Cincinnati home buyers and sellers,
Bill of Liz and Bill aka BLiz