The final step in completing any real estate transaction will be to go through a closing. This is when all of the parties come together to sign the necessary documents and transfer payment to the appropriate individuals or corporations. If something goes wrong during this final step, the entire transaction can fall apart. That is why it is always important to have a qualified real estate attorney on your side when going into a closing. Below you will learn more about what you can expect this attorney (such as Saba Richard D. Attorney) to do for you both leading up to the closing and on the day of this important meeting.
What To Expect In The Days Before Your Closing
As your real estate closing draws near, you should expect your attorney to go over all of the documents that you will be signing. During this document review, your attorney should explain to you what each document is and what any legal terms mean so that you have a clear understanding of what you are signing.
You should also expect that your attorney will provide you with a final statement of cost so that you know exactly how much money you will need to bring with you to closing. While you can wait until the day of closing to write a check or obtain a cashier's check, many people will simply choose to give any necessary closing costs to their attorney so that they can be put into an escrow fund prior to closing. This will allow the attorney to easily disperse funds.
What To Expect On The Day Of Your Closing
On the day of your closing, you and all other interested parties will gather at your attorney's office. At this time, you can expect your attorney to distribute all necessary paperwork, such as the purchase contract and funding contract. Once all of the documents have been reviewed and signed by all parties, your attorney will distribute payment. From a financial standpoint, this will solidify the purchase of your new property. However, there will still be some legal matters to attend to.
After everyone has walked away from the closing table, your attorney will still be hard at work in order to complete your real estate transaction. Among the tasks that they will need to complete are a final check of the property title, the filing of all financial documents, and the filing of your new deed in order to complete the legal transfer of the property.