Closing refers to the final process in escrow. Provided all the terms and conditions for both parties are met, and all the legal formalities such as the inspections, due diligence, title search, title insurance, and financing are completed and approved, your home will close.
At closing both the buyer and seller will review the purchase contract; sign the final paperwork; purchase funds will be transferred; and keys, title, and ownership will pass from the seller to the buyer. The whole closing process typically takes around 30-days but can be longer or shorter depending on the terms negotiated during the sale.
Do you live in the Twin Cities area and need help with closing on the sale of your home? Contact Counselor Realty—we are here to help!