Real Estate - Sellers' Frequently Asked QuestionsHome » Practice Areas » Real Estate » Real Estate - Sellers FAQs
What do I bring to closing?
Two forms of identification, one must be a government-issued ID such as a driver's license or passport. If you wish to have the money wired, bring either a copy of your bank's instructions or a voided check.
How long does closing take?
Typically, a half-hour to 45 minutes by the time all transfer and loan documents are signed. The process can take longer, depending on the number of documents and how closely the parties wish to review them, but closings rarely exceed an hour. Once in a while a last-minute complication will crop up, but this is rare.
What documents will I have to sign?
As seller, you sign far less than the buyer. Your paperwork includes the settlement statement, the deed, tax forms and a property owner's affidavit.
When will I receive my money?
Checks are written as soon as Klosinski Overstreet has the funds in its trust account and the lender authorizes distribution. This usually happens pretty quickly after closing, though if the ceremony is in the late afternoon the funds might not be available until the next morning.
Can you wire the money to my bank?
Certainly, just bring the bank's wiring instructions with you. Typically, the money will be in your account one to four hours after it's wired.
Should my attorney attend closing?
You are more than welcome to have your attorney review documents prior to closing or even attend the closing. Keep in mind, though, that while the closing attorney represents the lender, he also works to the benefit of all the parties involved. Because lender's interests are closely aligned with those of the buyer and seller, most of the time the parties do not retain separate attorneys.
Will you close short sales?
We have closed many such sales, which occur when a lender agrees to accept less than the full amount it's owed on the property. Be sure to let us know that your closing involves a short sale and send us the approval letter from the lender. We'll also work with you to present the short sale from the lender.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. An attorney-client relationship is not created unless by written engagement letter.
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