How to Be Ready for Closing Day

September 27, 2022

It could take approximately 71 days from the date you make an offer on a home, to the closing date. While this might seem like a lot of time, you'll have plenty of responsibilities to squeeze in during this timeframe.

Therefore, you'll need to get busy as soon as the seller accepts your offer, as you must complete many steps while preparing for a real estate closing.

Closing day is when you take possession of the house you're buying, but you can't close unless both parties complete all of the required tasks. We have developed a short guide to help you prepare for this eventful day.

Buyer Responsibilities

The buyer has many responsibilities when purchasing a home, beginning with the loan work. Most people require mortgage loans to close on their home purchases. So, you'll need to work with your lender if you need a loan.

Secondly, you'll need to hire a title company to handle the closing process. The title company researches the home title to ensure it doesn't have any defects or problems. They also provide title insurance on house deeds.

The buyer might also hire inspectors and other professionals to complete services. For example, you'll need an appraiser to determine the home's value.

Seller Responsibilities

The seller also has responsibilities to complete before the real estate closing day. One of the seller's main duties is to complete any contingencies that were agreed to within the contract.

Additionally, the seller is responsible for packing their things and moving out. The seller might have additional steps to complete if the title company finds any problems with the house deed or title.

The seller must also work with inspectors and professionals that need to go to the home to complete their services.

Closing Day Steps

Closing day is when the real estate property transfer occurs. On this day, the buyer takes ownership rights and possession of the house, while the seller must officially vacate the home.

Both parties receive a settlement statement a few days before closing, and both must review the statement to ensure its accuracy. If anything is incorrect, they must report it to the title company prior to closing day.

Both parties must be at the closing appointment. At this time, both parties must sign all the forms and documents to complete the transfer.

The buyer must pay the necessary mortgage fees, title fees, and other expenses required. As a result, the buyer generally needs a cashier's check at closing.

On the other hand, the seller receives a check for the profit from the home sale.

The deal is complete when both parties finish signing the remaining documents.

Get the Title Services You Need

Closing day is an exciting day for the buyer and seller, but you can't close until you complete all the necessary steps. One vital step is the title work needed for the transaction.

If you are searching for a real estate title company in Florida, contact us at Emerald Coast Title Services. We help buyers and sellers prepare for closing day, and we can help you. Contact us today to learn more.

Questions? Contact Us!

Recent Posts

Hot Flooring Trends for Homeowners

Very few things in a home can make such a difference to both form and function as new floors. Flooring reflects not only your style and personality, but also your lifestyle. The right floor can make it easier to keep your home cleaner, hide imperfections, and set the mood for a cozy living space. And […]

What Does a Title Company Do?

5.64 million¬†existing homes sold in 2020. While many homes sell each year without a hitch, others have title problems that need to be resolved before a deal gets closed. If you're purchasing real estate, you need to be sure that the title is legitimate and that there aren't any issues to be aware of. A […]

Can Your Loan Be Denied During or Up to Closing Day?

Approximately 528,000 home sales occurred in Florida in 2021. While you might not have bought a house then, you may be ready to buy one now or in the near future. Learning a few things about mortgage loans might be helpful if you want to buy a house with a loan. For example, can a […]

1 2 3 48

Signup for our newsletter

[wd_hustle id="email-signup" type="embedded"]

Emerald Coast Title Services, LLC
Privacy Policy | Terms of Service


Personalized Real Estate Closing Services along the Emerald Coast since 1983
@media screen and (-ms-high-contrast: active), (-ms-high-contrast: none) { .ct-text-block, .ct-headline, .oxy-rich-text, .ct-link-text { max-width: 100%; } img { flex-shrink: 0; } body * { min-height: 1px; } }

ECTS Coronavirus statement

Click Here
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram