Who Closes a Sold Property?

Q: Who closes the transaction?

A: A real estate real estate closing gifts is completed when the seller conveys the title to you by deed, you give the purchase money to the seller, and the appropriate documents are recorded with the Register of Deeds office in the county where the property is located. The will probably be handled by an attorney chosen by you. In many transactions, the attorney may also represent the lender and the seller. The seller may hire his or her own attorney or pay your attorney to prepare the deed to give to you. Make sure you know up front who the attorney is representing. Others involved in the transaction may recommend or offer you financial incentives to hire a particular real estate closing gifts attorney, but you have the final word. Prior to , the seller should give the real estate closing gifts attorney a copy of the deed to the property. Also, if there is an outstanding mortgage on the property, the seller should give the attorney any personal information needed to obtain a loan payoff figure so any existing loan(s) can be paid off in full at . As the buyer, you will need to give the real estate closing gifts attorney a copy of your contract and contact information about your lender, any inspectors, or other persons who provided services in connection with the transaction.

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