Charlotte Single Family Home for Sale

The closing is a meeting where ownership of the home is legally transferred from the seller to the buyer. Most parties involved in the buying/selling process will attend. Closing procedures are usually held at the title company's office or the closing attorney's office. Your closing officer coordinates the document signing and the collection and disbursement of funds.

In order for the closing to go smoothly, each party involved should bring the necessary documentation and be prepared to pay any related fees (closing costs). There may be more than one form of acceptable payment for your closing costs so ask the closing officer which form of payment will be required and to whom it should be paid.

Sellers sometimes pay for a portion or all of the closing costs, depending on local market conditions, terms of the purchase contract, and timing considerations. Any such concessions should be acknowledged in writing. Most lenders will allow a credit from the seller to the buyer for the non-recurring closing costs. However, they usually won't allow a credit that reduces the amount of the buyer's down payment or any of the buyer's recurring costs, such as expenses for fire insurance premiums, Private Mortgage Insurance (PMI), or property taxes.

Your agent can save you time and money by being present at the closing reading the documents on your behalf and answering any questions or helping to resolve any issues that may come up. Your agent will also be available to manage any last minute or unexpected details that come up.