After all the negotiations are done its time to move to the closing table. The process doesn’t always look like it does in the movies. If you are a seller you maybe surprised at what your part in the process really entails.
There are multiple stages of a listing and if you go back to my YouTube channel you will find a video on the stages of a listing. For the sake of this blog entry, we are done with all negotiations, requested and required repairs are completed and both sides are ready to close the deal.
The seller will typically go to their attorney’s office a few days (or as much as a week) prior to closing day to sign their seller docs. These documents may include the deed, invoices for the repairs and the final closing disclosure. (See episode 19 for info on closing disclosures).
After the sellers sign their documents, their attorney will bundle things up and send it over to the buyers attorney for the buyers to sign on the day of closing. Sellers can often get confused on closing dates because they remember the buyer experience. The buyers process is a little bit different and we will break that down next week.
Remember the process may vary from state to state and region to region and the customary practice can also vary from county to county. I practice real estate in Northeastern North Carolina (Camden, South Mills, Elizabeth City, Perquimans) but the process will vary if you are in Virginia or even the Greenville NC or Triangle area. Your best bet is to make sure you are using an agent who is familiar with your state and region and ask lots of questions to make sure you as a seller are informed.
There’s more coming soon in this series. Stay tuned (and please share with your friends and family who need real estate answers)
Inner Banks Real Estate