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Typical real estate closing requires ample time, understanding

On Behalf of | Apr 23, 2015 | Real Estate Transactions |

Buying a home in Fort Lauderdale can be exciting as well as a bit overwhelming. The capstone of most real estate transactions will be the real estate closing session. In most cases the path toward this moment has probably been a long one, most likely with a few twists and turns along the way. Still, when the day arrives, the excitement is usually palpable. However, some of our South Florida readers may not know what to expect at a real estate closing.

First, buyers should be prepared to spend as much time as it takes to get the transaction completed. It usually isn’t a good idea to think that a real estate closing can be taken care of during a lunch hour. There are quite a few documents to review, understand and sign, and only in the most unusual of circumstances could this be done in less than an hour.

Next, most people can expect to see quite a few familiar faces at the closing. Both the buyer and seller will likely want to be present, along with any representatives they have hired. There may also be a representative from the buyer’s mortgage company. Real estate agents will also likely be present.

Perhaps most importantly, buyers can expect to see stacks of documents that they will need to sign. Many of them will have been prepared by some of the other parties attending the meeting, although in most cases the broad strokes of the understandings will likely already have been communicated to the buyers. But at the closing is when they have been reduced to writing so that they can be signed. From there, buyers will officially have ownership of the home transferred to them.

Since a real estate closing involves so many crucial documents, it may be helpful to ensure a full understanding of everything requiring a signature. The period culminating in a closing can be paved with the advice of an experienced real estate attorney.

Source: www.bankrate.com, “What to expect at the closing table,” Crissinda Ponder, Accessed April 18, 2015