The Closing Process for Buyers | John Castelli
Step 1: After you and the seller sign and agree on the terms of the purchase of your home, we have an executed contract.
Step 2: Any earnest money you have agreed to is deposited in an escrow account.
Step 3: The executed contract is sent to the title company, which helps determine whether the seller has the right to sell the property to you.
Step 4: If there is an option period, you can inspect the property during this time. Any repairs the seller agrees to should be completed with receipts before closing.
Step 5: The title company will collect all the necessary documents.
Step 6: When we close, we’ll work from a document known as a HUD-1 settlement statement. The HUD-1 tells you the charges associated with the purchase of your home.
John Castelli, Realtor
Castelli Management, LLC.