Understanding the Closing Process

Essentially, settlement day involves the formal, legal requirement of transferring ownership from the seller to you. But even though mortgage closing is the last step in buying a home, understanding the closing process will make the preparation for settlement easier. There are still several steps that are needed to complete. When you understand what entails the closing process, you will also understand when major problems occur. Traditions vary by location, but at closing there’s usually a representative from a title company or an attorney.

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