What’s the closing process look like?
Hi, it’s Nick with Sell My San Antonio House. If you’re looking to sell your property, and maybe it’s been a long time since you sold a property, or maybe you’ve never sold a property before, you hear a lot of people talking about, well at closing, or when we get to closing, or the closing process, and you kind of understand buy you want to know more. Maybe you’re like, well, what really happens? What does that process look like? If you’re the seller, it’s going to go real similar to this right here.
You probably have been working a little bit with a title company and that title company, if you remember, that’s the third party that’s going to work between the buyer and you as the seller. And they’re going to get all the paperwork ready. They’re going to check through the title on the property. They’re also going to verify that your buyer has the money and has sent their funds.
So when it comes time for closing, you’ll head over to the title company. Most of the time, if you can’t make it, there are options for remote closing or to send a notary. But let’s just for this example, you go to the title company.
Hi, I’m here, we are the sellers. My name is so-and-so. They’ll take you in. They usually have little offices set up and you’ll meet with their escrow officer. The escrow officer for the title company will have all your documents ready.
When you’re the seller, it’s not quite so many. Most of the time, there are a few things. And probably most importantly, what you’re going to sign is the deed. When you sign the deed, you’re signing the deed of the property over to the buyer. There’ll be other stuff that you have to sign, but that’s kind of the big one that’s saying, hey, we’re transferring the title of this property from me as a seller to this person who’s buying it.
Now, what’s going to happen on the other side is your buyer, they’re usually not in the same room together. Your buyer is also going to have their own closing documents. And so, they’ll sign their documents saying, hi, we’re purchasing this property. And they, if they’re a direct buyer like us, where we pay cash, we will have already wired that money over to the title company. So now you’ve signed your paperwork saying that you’re selling the property. We’ve signed our saying that we’re buying the property.
The title company is going to verify that they’ve received our money or our funds to pay for the property. And then they’ll send you your proceeds and they’ll take those documents that you signed, like the deed, and they’ll record those making us the owner of the property. And that’s about it.
You always want to make sure you let the title company know how you want your proceeds. Most commonly now, we do them with a wire. So the title company will wire the funds directly to your account. If you want or need a check, you can ask them. I would give it a couple of days ahead of time to let them know that you’re going to want to check. And that’s it. You go in, you sign a few papers. If you have any questions, there’ll be an escrow officer there that can help answer those questions for you. And then your property’s sold and you get a move on to whatever you got coming up next.
So I hope this helps kind of clear up what’s going to happen at closing what that process is going to look like. If you got any questions or you think of something we can help you with, give us a call, (210) 201-6644 or reach out through the website, sellmysanantoniohouse.com. Thank you.