| Selling your home
The selling process
Step 6: Closing the deal
Closing the deal
The sale formally ends at the closing table. In most transactions, the closing lasts less than an hour and often occurs at the title company office. Your REALTOR® and the buyer's agent may be present. A title company officer or escrow agent will preside. Be sure to bring your driver's license to the closing (DPS identification cards and passports are also acceptable).
Basic documents
The sale actually consists of two transactions: 1) transferring the property to the buyer, and 2) paying off the existing mortgage on your home (or allowing the buyer to assume your mortgage). To transfer the property, the title company will present documents proving that you have the title. Proceeds of the sale may be disbursed at closing or shortly thereafter, once all the paperwork and verifications have been processed. When you give your house key to the new owners, the sale is complete. |
