The Closing Process

Although a real estate agent usually handles the pricing, marketing and negotiating, there are several additional steps to closing the sale once the the purchase and sale agreements have been signed. 

Step 1--Removing contingencies: The most common contingencies are financing and the sale of thee buyer's current home.  These conditions must be removed or waived before the sale can be cloosed. 

Step 2--Appraising the property: The buyer's lender requires a formal appraisal to confim the value of the home, to be used as collateral to secure the loan. 

Step 3--Preparing closing documents: Most often real estate attorneys prepare documents that confirm the transaction, pro-rate funds and so on. 

Step 4--Signing closing documents: Even after both parties have signed closing documents and deposited funds, the sale may take a few more days to close. 

Step 5--Recording the deed and disbursing funds

Step 6--Receiving proceeds and welcoming the moving van

Step 7--Turning over the keys to the buyer.