The Closing Process for Buyers | John Castelli

November 18, 2016




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.


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Buying a Home in Chicago


John Castelli Real Estate

Keller Williams Realty Partners

700 Busse Hwy

Park Ridge, IL 60068

(773) 851-7636

www.SoldByCastelli.com

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