When selling a home, accepting an offer is a major milestone, but there are still several steps before the transaction is complete.
Understanding what happens between contract and closing can help sellers know what to expect.
The Title Search Begins
After the property is under contract, the title company researches public records associated with the property.
If an issue such as an outstanding lien or ownership question appears, additional information may be needed from the seller.
Responding quickly can help keep the process moving.
Payoff Information May Be Collected
If there is an existing mortgage or another obligation that needs to be paid from the sale proceeds, the appropriate payoff information may need to be obtained.
Make sure requested information is provided accurately and promptly.
Closing Documents Are Prepared
As closing approaches, the title company works with the parties involved to prepare the necessary documents and figures for the transaction.
Sellers should review information provided to them and ask questions about anything they do not understand.
Closing Day Arrives
At closing, the seller completes the required documents needed to transfer ownership. After the necessary requirements are satisfied, the transaction can be finalized according to the closing process.
Preparation Helps Make Closing Easier
Selling a property involves more than handing over the keys. Staying responsive and working closely with your real estate and title professionals can help reduce last-minute surprises.
Planning to sell a property? Contact Crest Title Company to learn more about our title and closing services. Our team can help answer your questions and prepare you for the closing process.