What documents do I get at a home purchase real estate closing?
Posted on February 16th, 2010 in Renting & Real Estate | 3 Comments »
Michael asked:
Assuming no mortgage is involved, what documents am I supposed to get at a real estate home / condo purchase closing? What documents do I sign? Which ones prove that I now own the property? And if a wire transfer is involved, does the fact that the title / escrow company has disbursed funds to seller mean I know legally own the property and title is clear (title insurance bought) and title company has already recorded new owner with government agencies?
Malibu Real Estate
Assuming no mortgage is involved, what documents am I supposed to get at a real estate home / condo purchase closing? What documents do I sign? Which ones prove that I now own the property? And if a wire transfer is involved, does the fact that the title / escrow company has disbursed funds to seller mean I know legally own the property and title is clear (title insurance bought) and title company has already recorded new owner with government agencies?
Malibu Real Estate
3 Responses
California Real Estate
More than you can read and understand.
Buy A Gps System
Although some people can do a transaction like yours without a lawyer’s assistance, you should consider employing a real estate attorney to help you. Please take no offense to this answer, but your questions suggest that you do not have enough experience with this type of transaction. Once you have gone completely through a transaction or two, then you you will know the dynamics of a condo purchase transaction.
You do not want to pay good money and not get what you expect.
Sarasota FL Real Estate
If there’s no mortgage you probably won’t get that much at closing, the settlement statement and perhaps a copy of the warranty deed. Once everything’s recorded you’ll get the original deed in the mail as well as your title policy. The property is yours once it’s recorded and the funds are dispersed to the seller.