A closing is the end of the long and tiring process of buying a house. It refers to the day you close the deal on a piece of real estate and on the mortgage to buy that real estate. It is the final transfer of money and keys.
It is important to hire a real estate attorney to guide you through the closing process as you deal with certain documents that can be very complicated. Below is a list of some but not all of the closing documents you may deal with during a closing:
- HUD Form 1 or Disclosure/Settlement Statement. This is one to read carefully.
- Warranty deed. This document should include the names of the buyer, the seller and a description of the property. Often this deed also guarantees that the seller has the right to sell the property. With the signatures of the seller and buyer, this document transfers the title of property.
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