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Real estate

What steps must sellers do to complete the closing?

You must go through the closing procedure after accepting an offer on your home. Depending on the buyer’s loan approval timeframe and whether there are any title or property issues, this process typically takes four to six weeks. You may be able to avoid some of these processes if the buyer is paying cash or utilizing alternative finance like a hard money loan since many of them are mandated by mortgage lenders.

After the closing procedure is complete, you will get payment when selling a house in the The location of your home and other factors will affect how fast you actually get money in your bank account. You may be paid on your closing date in many states. Some sellers might get their money in under a day. However, a little window of time must pass between your closing date and the time the lender authorizes the loan in a few jurisdictions, known as dry funding states. This pause provides the lender a few days to examine the loan paperwork for the buyer. You won’t be paid in dry funding states until the lender authorizes the deal and transfers funds to your closing agent.

On the day of closing, what should the seller bring?

  • A genuine picture ID issued by the government
  • All of the house’s keys as well as garage door openers
  • Access codes for thermostats, garage doors, and other smart devices
  • For closing fees and seller’s credits that weren’t paid with proceeds, write a cashier’s check (your closing agent will tell if this is necessary and the amount)