- Introduction
- Plan Your Program. Start Early
- Should You Sell?
- Steps before the Listing
- Selecting a Real Estate Agent
- Listing Contracts
- Real Estate Commissions
- For Sale by Owner
- Getting an Offer
- Negotiating Items
- Entering Into a Contract
- Hiring an Attorney
- Financing the Deal
- Seller Financing Alternatives
- Before the Closing
- Home Inspection
- Sample Closing Costs for Items Paid by Seller
- The Closing
- Bridge Loans
- Taxes
At the closing, documents will be signed and exchanged; money will pass to you, and title to the property will pass to the buyer. The buyer and his or her attorney, you and your attorney will all meet together at a pre-appointed time and place. All documents will be ready and prepared by the attorneys. You will be notified a day or two before the meeting of the items you need to bring with you. By this time the RESPA form has already been prepared so have your attorney send you a copy and review it before the closing.
Your lawyer will explain each document you are signing and why. Ask questions. This is an important and costly transaction. Don't be shy; it is your money.
IMPORTANT NOTE: If you are ready to close on your replacement home, first schedule to close on the home you presently own. If there's a glitch in your sale, you don't want to be saddled with two mortgages simultaneously. In addition, your new mortgage lender will probably not allow you to close on your new home if you're still indebted on the old one.
IMPORTANT NOTE: Remember to remind your attorney about items you've paid for, but will be leaving for the benefit of the purchasers. Examples include, prepaid taxes, sewer charges, heating oil left in your tank, etc. You should be reimbursed for these items at the closing.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Franklin Mint Federal Credit Union and Mint Wealth Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Mint Wealth Advisors, and may also be employees of Franklin Mint Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Franklin Mint Federal Credit Union or Mint Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
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Financial Learning Center content created by TrueBridge, Inc. The information provided is based upon sources and data believed to be accurate and reliable. The content contained herein is intended for information and illustrative purposes only, should not in any way be construed as a personal recommendation, and should be used in conjunction with individual professional advice.
