The closing of a real estate transaction in Anytown is the culmination of the home buying or selling process. Also known as a real estate settlement or real estate escrow, the real estate closing it the actual transfer of property.
Closings can be stressful, especially for first-time Utah home buyers. I have guided countless Provo and St. George real estate clients through the stacks of paperwork necessary for the house closing. I make sure everything is in order for the big day.
Here is a list of some of the documents you will sign at closing:
- Truth in lending statement
- Monthly payment letter
- Itemization of amount borrowed
- Disclosure or settlement statement
- Proration agreements
- Warranty deed
- Tax and utility receipts
Timing is key. As I work with my Anytown real estate clients we consider many factors. What is your current living situation? If renting, when does your lease end? Do you want to do some work on your new Ogden house or Salt Lake City condo before moving in? If a client is selling one home to buy another, there are two closings to schedule. If the closing will occur near year-end, I like to consider tax implications.
This is just a brief overview of the real estate closing process. Call me at 801.938.3466 with questions about the closing or anything else pertaining to your Anytown real estate needs.
-Chris Johnson, Real Estate Marketing Agency