When does Closing Actually Occur?
If this is your first time buying a home there can be so many questions. Some homebuyers say it was like a blur and they really have no idea what they signed they are just happy to be in the house.
But knowing the details and staying educated on the process can really help you feel more comfortable and confident about your purchase. [Our Winthrop Real Estate affiliate has a great article about the buying process]
When you buy a home in the Olympia real estate area, there is about a month worth of steps that need to take place. If you are buying with cash and not a loan, the process can go much more quickley. There needs to be time for an inspection, financing to be approved and documents to be organized. Your lender may require several documents from you and that can take some time.
One the inspection has been fulfilled and all signs point toward closing, there is usually a week or more for lenders, escrow, insurance, agents, buyers and sellers to all come together to finalize the paperwork.
About a few days before closing, the escrow company will call in the buyer and the seller for signing. This takes anywhere from about an hour to longer depending on the amount of paperwork and how much expaination is needed. Again, don't hesitate to ask on everything you are signing until you fully understand it.
Once all the paperwork has been signed, the deed goes to the county for filing and all money is disbursed to the involved parties. Once this is complete, closing has happened and the buyer can now receive the key. It is illegal for an agent or seller to hand over the key until closing happens as it is not the property of the buyer until closing is complete.
If you have any questions on a particular property or home you see in the Olympia real estate market, please let us know! We can show you any home for sale in the area! For more on this topic check out these resources: Remortgages Equity release Bridging Loan
MORE REAL ESTATE NETWORKS: United Brokers is your source for all listings in Vancouver WA homes and all Clark county real estate. We service any real estate transaction for the Vancouver area and all Battle Ground WA homes and properties. Butler Realty is your expert source for all Ardmore TN real estate and homes. With access to all listings in the Southern Tennessee real estate area plus all Northern Alabama real estate, you can be sure to find the right home for you here.
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