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Last Step in Buying a New Home: Closing

August 9, 2012

Everyone is always interested in knowing the first steps to buying a new home, but another important factor to consider is the closing. Grant & Company’s preferred closing partner is Memphis Title Company. Here Closing Attorney Mark Miesse explains the process: The last step in the home buying process is the real estate closing. In other words, the closing is the last step between you and your keys. Through its attorneys and paralegals, Memphis Title Company is responsible for coordinating the transaction. In advance of the closing, a number of service providers must provide us with information so that the transfer of title takes place in a smooth, orderly and efficient way. Also, we must make sure that certain steps are followed so that you get what you pay for. A search of land records must be done. The insurance company needs to have the homeowners’ policy in place. Home Owners Association dues must be collected and paid. Property taxes must be paid if due. The mortgage company or bank documents need to be prepared and executed. Title Insurance must be in place to protect the parties. A statement of costs must be prepared, and the down payment and expenses of closing must be collected and paid. At closing, the seller signs documents to transfer title, and the buyer signs documents to create the mortgage. All the documents must be in compliance with the contract, the loan instructions and state and federal law. Nowadays, up to 50 or more documents must be prepared and signed, and in many cases, multiple copies must be signed. Memphis Title Company has been helping buyers and sellers complete this process for decades. Memphis Title has a trained staff of experienced lawyers and paralegals who want your experience to be a good one, and at the end of each closing, we get the privilege of making it all worthwhile. We get to hand you the keys and tell you “Congratulations”.