Closing
Closing is the final step in executing a real
estate transaction.
The closing date is set during the negotiation
phase, and is usually several weeks after the
offer is formally accepted. On the closing date,
the parties consummate the purchase contract,
and ownership of the property is transferred
to the buyer. In most jurisdictions ownership
is officially transferred when the contract
is registered at the cadastre, or, in most US
states, at the office of the County Recorder
of the county in which the property is located.
Several things happen during closing:
* The buyer (or their bank) delivers a cheque
for the purchase price. * The seller signs the
deed over to the buyer, and gives them the keys.
* A lawyer or civil law notary registers the
new deed with the local land registry office.
* The seller receives a cheque for the proceeds
of the sale, less closing costs and mortgage
payouts.
Closing typically happens in escrow, which means
that a lawyer, real estate broker or other trusted
party gets the money and the signed deed, and
arranges for the transfer. This is primarily
so that the seller can give up ownership of
the property, and the buyer can hand over the
payment, without both parties having to be there
at the same time. Escrow ensures an orderly
transaction, or if something goes wrong, an
orderly termination of the agreement.
****DISCLAIMER****
Bob Marcy is not the author of the information provided in this article and is providing it to his website visitors for informational purposes only. Bob is a licensed Realtor and not a legal or financial expert. The information contained in this article should not be used to replace the advice of a trained legal or financial expert.
About Bob Marcy & Mountain Living
Now
If you are looking for a lakefront
cabin or a secluded mountain home in North Georgia
, then you will need a partner to help you every
step of the way. Bob Marcy is an experienced
North
Georgia realtor that has the local knowledge
you need and the passion to find your perfect
slice of North Georgia real estate. Bob knows
you have many North Georgia realtors to choose
from and he is committed to providing a level
of customer service that sets him apart from
the crowd. He can help you find North
Georgia lakefront cabins, North
Georgia land for sale, North
Georgia mountain homes, Blue
Ridge real estate, North
Georgia river homes, North
Georgia lake homes and Blue
Ridge cabins.
Bob loves living in Blue Ridge and selling
real estate all across North Georgia, Eastern
Tennessee and Western North Carolina . He has
developed this custom website to help consumers
explore all that this area has to offer. You
can search the entire
North Georgia MLS including all North Georgia
properties and land for sale, even properties
listed by other North Georgia realtors. You
can perform custom North Georgia real estate
searches or take advantage of the time saving
1 click searches he has built into the site
such as North
Georgia cabins under $300,000, North
Georgia lakefront cabins & homes, North
Georgia river homes, North
Georgia land for sale under 1 acre, North
Georgia mountain homes under $300,000 with views
and all
Blue Ridge homes under $300,000.
If you see something you like or if you have
a question about a property or maybe just where
the best place to eat is, give Bob a call at
706-258-7375 or shoot him an
email at bob@mountainlivingnow.com
.
