The final part of the process of buying or selling a home is the closing. Closing on a home means you complete all the actions necessary to finish the sale and legally transfer the ownership of the property.
All real estate sales must go through the closing process, which involves some very important steps to protect both sellers and buyers.
Ensuring the title is free and clear of any issues that could legally delay or prevent the sale is an important part of the closing process, according to Open Door. You will need a title search and possibly have to purchase title insurance. Title insurance helps guarantee you have coverage as the buyer if someone tries to make a claim against the property in the future.
Part of the closing process is also ensuring you complete a home inspection. You need to be sure there are not any issues with the home. If you find issues, you may need to renegotiate the deal.
You also will do your final walkthrough of the property to ensure everything is as it should be and the seller hasn’t made any changes or done anything to violate your agreement. For example, if the stove and refrigerator were part of the deal and the seller removes them, you would be able to catch that during this walkthrough.
You will have to sign many documents as part of the closing process. It may help to have a closing attorney Charleston SC to look over any documents before you sign them. Signing binds you to the terms and conditions of the agreement, so you have to be sure you understand what you are signing.
Complete the Closing
The closing process can take about 14 to 60 days. If you run into any issues, it could take longer.