Financial Answer Center
The Closing
- Introduction
- Before the Closing
- Home Inspection
- Sample Closing Costs for Items Paid by Buyer
- The Closing Timetable
- Loan Closing Checklist
- Tax Documentation
Introduction
The closing is when your real estate deal is finalized. Your attorney will verify that everything is in order, and you will sign a large quantity of documents, which your attorney will explain to you.
There are a number of items you will need to take care of before the closing. An important one is the home inspection, which you will pay for; it is your chance to discover any serious hidden problems with the property, which may lead to an adjustment in the purchase price. There will be certain closing costs which you will also pay for, either before or at the closing itself. Keep good records of all closing costs for the purpose of tax documentation.
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