Home | Real Estate | Buying
Closing, also known as settlement, is the final step in buying a home. Typically, the target closing date is specified in the real estate contract, and there are several steps that both the buyer and the seller must take to fulfill the contract and close the transaction. Between signing a contract and closing on a home, buyers have a variety of tasks to complete to fulfill the legal obligations outlined in the contract. For example, unless you are paying with cash, you will need to obtain financing to pay for the property. As part of the financing agreement, your lender may require you to get a home appraisal, home inspection, homeowners' insurance, or take other steps before they will approve your loan. After your loan request has been approved, the necessary paperwork is prepared by the real estate agents, title companies, lenders, and attorneys involved in your transaction. On the closing date, you may take a walk through of the property to have a final assessment of its condition. At the closing meeting, you sign all of the papers associated with the purchase and receive the keys to the home. Most buyers find that closing is a smooth process assisted by knowledgeable agents, attorneys, and the other parties involved in the transaction. For example, your agent can typically provide recommendations for home inspectors and closing attorneys and can help keep you on schedule throughout the closing process. Your agent will also be in contact with the seller's agent to be sure the sellers are fulfilling their own obligations as outlined by the contract. Overall, if you know what to expect at closing and work with your lenders, inspectors, and agents to complete all of the necessary steps prior to the closing date, your transaction should be finalized in a straightforward, timely manner and you will be on your way to life in your new home.
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The Journal Homes website is a comprehensive Greenville, SC real estate guide, featuring homes for sale throughout the Upstate, South Carolina area, including popular new homes in a number of up-and-coming communities.
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