Steps Taken Before a Real Estate Closing

The first step for a real estate closing is the signing of the sales contract with the parties, and it will have: the sales price, the buyer’s name, the seller’s name, the property address, and it’ll have any contingencies in there for inspections, for soil treatment, and also for inspections of the home for structural conditions.

Then, once all that is met, then the buyer has started their loan process, and they’ll do a loan application with their bank. Then, prior to the closing, the closing attorney will have the title examined.

The title exam will provide any liens that are on the property, or any mortgages, or judgments, and all that will be taken care of at closing.

Finally, before the closing, all the documents are prepared, and they are reviewed by the parties prior to signing, and then the closing takes place.

NEW! Closing on your home just got easier thanks to the new closing quote system and iPhone and Google Play apps. The new system launched in June of 2018 and simplifies and shortens the process for obtaining a closing quote. Buyers, Sellers and Agents can now visit the M&B real estate portal for an express quote.