Settlement
Finally, it’s time to settle on your home, but before the actual day of closing there are a few other things that have to happen. The settlement company will direct all the activities from getting lien letters on your property to preparing the closing paperwork. The title company will research the complete recorded history of the property, to insure that the title is free and clear of encumbrances by the date of closing and that all new encumbrances are properly added to the title. You’ll want to get the utilities changed out of your name before closing. Don’t worry, you won’t be on your own through this process, a good agent will be there to remind you of everything that is going on and anything you need to take care of.
Once all details have been taken care of, the settlement company will send you a closing statement. This shows the costs and credits to both the buyer and seller. You should review it carefully. The bottom line will show the exact amount you will receive at closing. Then you turn over the keys and your home is officially sold.
