The settlement and closing mark the end of the home selling journey. This is the time to check and double check that all the terms and conditions have been met and complied with. Make your final preparations to move, but be emotionally ready for unexpected glitches before it is all over.
You will meet with the closing officer (and Realtor, if applicable) to sign your settlement statement (Hud1) and a Warranty Deed. Carefully review all documents for accuracy. Make sure the sales price is correct and you are credited and debited correct amounts. The buyer will arrive separately to sign their loan documents and settlement statement.
Closing occurs only when the buyer's loan proceeds have been delivered to the closing company, the seller's loans and liens paid off, and the new Warranty Deed recorded at the County Recorder's office.
At the settlement, confirm with the closing officer or Realtor the exact day and time you will be turning possession over to the buyer. It is strongly advised not to allow the buyer partial or full possesion until the deed has been recorded.
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