Closing information

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 12/23/2002 4:41 pm
After the purchase and sale contract is signed by both the buyer and the seller of a property, the buyer will need to arrange financing, have termite and building inspectors check the property out, obtain insurance for the property, and perhaps have a survey done. When everything is in order, a closing date and time is set. Typically, a closing will occur at the office of a lawyer or a title company. Several people may be present at the time of closing, including the buyer, the seller, the attorney, and the real estate agents. At the closing, the attorney presents a closing statement to all parties listing all moneys, costs, expenses and deductions. After reviewing the closing statement, the buyer signs all the documents necessary to obtain the loan to purchase the property. The seller signs the deed to the property. Normally, the attorney takes the responsibility of recording the deed. The buyer is usually responsible for paying all expenses and costs associated with the property purchase. The transaction is complete when the appropriate documents are recorded with the local town clerk. For more information on closing, contact a real estate professional.

©2006 Crossroads Mobile. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share
More Halloween Stories
Make a skeleton for your crew
Most of you would think twice about celebrating Halloween with a "sleepover" in a cemetery, but in Mexico, that's exactly what children do. They aren't braver than you, they just know they have nothing to fear from the people buried there.
The sweet and sour of Halloween
Boo.
Hoo.
Chew, chew, chew.
Chocolate candy is no doggy treat
In last week's column, my friend and colleague Dr. Don Palermo provided us with a nice primer for the Halloween season and its pitfalls for pet health.
News Poll
Connect with WKBN
Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.