Real Estate Closing Survival Guide – Part III

The buyer and sometimes even the seller are expected to have some money ready to hand over during this fateful meeting. You should be informed of the amount you need before the closing. If you are not, call and ask. You’ll want to bring a certified check or send a wire for the correct amount.

Hand over the money                             

Here are a few things a buyer will be paying for at the closing:

•  Closing costs. Expect to pay a portion of the closing costs. These can vary from state to state and even from county to county. Also, most are negotiable (ahead of time), so closing costs can vary greatly.

•  Payment for the house. The buyer brings the down payment (if any) at this time, minus any earlier deposit(s). It is given to the closing agent, along with the lender’s funds  for the balance.

•  Escrows. Often the buyer’s annual taxes, insurance and other items are paid through the lender. An escrow account (or reserve) will be established at this time.

Smile. Now you get the keys!!

A closing may be the end of the house hunt and buying process, but it’s your new life as a homeowner.

Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. Employees of Title Junction can also act as a witness in courtesy closings as well as an escrow agent or a notary public.

Please contact Jennifer Ferri of Title Junction, LLC for further information @ 239-415-6574 or www.title-junction.com