CHAPTER 18 Once You’ve Sold Your Home our Home
STEP 7: THE CLOSING
The closing agent (escrow or title) will collect and disperse all money. You should receive a check at the end of the closing for your net proceeds. In most cases depending the time of day recording takes place it will be on the same day or the next business day. All paperwork is signed, agreements completed, and details finalized at the closing. Where and how your closing will take place depends on customs and practices used where you live. The closing often takes place at the closing agent’s office. Make sure to stay in touch with this agent to be 100% certain that your sale doesn’t get off track. There shouldn’t be any surprises at the closing. All expected costs should already have been covered and put into writing between you and the buyer. The following items are commonly paid for by sellers at closing, although this is not set in stone.
• owner's title insurance • escrow or attorney’s fee • transfer taxes • home warranty fee • mortgage payoff • outstanding utility bills
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