• Direct Line: 407.256.8190 | Sign Up | Login
  • The Premium Properties
    Direct: 407.256.8190
  • CB Logo
  • What happens at Closing? | What to expext at Closing?

    Home closing


    You’ve negotiated a successful offer, resolved all the inspections items, and have received your Clear To Close.  You are so close to ownership that you can feel the new keys in your hand.  The only thing standing between you and moving into your new home is the closing table.
    The following is Frequently Asked Questions about What Happens at a Closing in Florida…


    Closing (also called settlement) is the legal transfer of property ownership. Usually, but not always, possession is transferred at closing.


    Face-to-face closings are common in most states, although Florida does not require them. Your Realtor can provide details for your situation. Since Florida has many Foreign Buyers and Sellers, you have the option of doing a “Mail Away”.
    The participants usually include:• You, the buyer.• The seller.• The real estate agents representing the buyer(s)and seller(s).• The closing agent, the title insurance representative, and the escrow agent. Often one person fulfills all three roles, coordinating and recording the exchange of the documents and money, disbursing funds, and handling various closing details.


    Closings are usually held at a title company’s office (in Florida, it’s typical for the seller to choose the title company since they pay for the title insurance). Their job is to confirm the current legal owner of the property, reveal any mortgages, liens, judgments or unpaid taxes on the property, and identify any restrictions that may affect the sale of the property.Any problems need to be corrected before a buyer can receive “clear title.”


    Your Realtor can advise you on what you’ll need to bring to closing, but typically buyers must provide:• Payment of closing costs• Proof of insurance• Photo ID

    You’ll sign many documents. Rely on your Realtor to review these documents and answer any questions you may have. Frequently-used documents include:

    • Closing statement (HUD-1) – details all funds changing hands between the buyer and seller
    • Truth in Lending statement – a final summary of the terms of your loan
    • Mortgage note – a legal obligation to repay the lender according to stated terms
    • Deed of trust – the legal transfer of ownership; gives the lender a claim against your home if you fail to meet the terms of the mortgage note
    • Affidavits – any binding statements by the buyer or seller
    • Riders – any contract amendments that impact your rights
    • Any additional documents required in your state.

    Once all documents are signed and all monies have been paid and dispersed, possession is transferred and you receive the keys to your new home. Be sure to keep your closing documents in a safe place for future reference. Some of the expenses associated with your home purchase are tax-deductible.


    Live well,


    Vincent Paige |REALTOR® | RE/MAX Showcase
    Certified Broker Price Opinion Registered Agent (BPOR)
    Florida Military Specialist (FMS)
    8934 Conroy Windermere Road | Orlando, FL 32835
    Direct: 407.256.8190 | Fax: 407.264.8073

    E-mail: vince@thepremiumproperties.com

    Live MLS!  www.ThePremiumProperties.com or call Vince Paige the Dr. Phillips Realtor.

    Orlando Homes For Sale | Orlando Vacation Homes For Sale | Vacant land in Orlando for sale | Homes for sale in Bay Hill | Condos for sale in Bay Hill | Homes for sale in Bella Collina  | Lots for sale in Bella CollinaHomes for sale in Emerson Pointe  | Homes for sale in Phillips Landing  |  Homes for sale in Vizcaya| Condos for sale in Vizcaya | Condos for sale in Downtown Orlando | Homes for sale in Isle worth  | Homes for sale in Keene’s Pointe | Dr. Phillips Realtor |Homes for sale in Lake Butler Sound  |  Lakefront Homes for sale in Windermere | Luxury homes for sale in Windermere | Luxury homes for sale in Orlando | Luxury Homes For Sale in Winter Garden  | Luxury Homes For Sale in Winter Garden  |Orlando Real Estate |Dr. Phillips Realtor |Bella Collina Realtor |Isleworth Realtor |Bay Hill Realtor |Winter Garden Realtor |Orlando Real Estate Blog

    Submit your review

    Create your own review

    Leave a Reply

    Your email address will not be published.