The closing process finalizes the sale of your home and makes everything official. Also known as settlement, the closing is when you get paid and the buyer receives a deed to your home.
Here are a few things to bring to the closing.
What can you expect?
The closing agent will look over the purchase contract and identify what payments are owed and by whom; prepare documents for the closing; conduct the closing; make sure taxes, title searches, real estate commissions and other closing costs are paid; ensure that the buyer’s title is recorded; and ensure that you receive any monies due to you.
What are your costs?
Sellers commonly pay the following at closing:
After the closing, make sure you keep the following for tax purposes: