Real Estate Closing
Our Davidson County real estate attorneys can handle your real estate transaction from start to finish. We can prepare and draft the initial purchase contract and guide you through the next steps. Once you have entered into a real estate purchase contract, it is time to start prepping for the finalization of the transaction and make the property legally yours.Real Estate Closing
The Closing of your real estate transaction is the process of transferring title from one property to another through a Deed based on the agreed upon consideration amount (the funding). In other words, Closing finalizes the transaction. Real Estate Closings involve many documents and preparation, including Deeds, Title Insurance Documents, and Closing Disclosures. Our Goodlettsville real estate attorney and Settlement Agent ensures the Deed and, if required, Deed of Trust is properly recorded. We work with you, your realtor, and your lender (if you have one) every step of the way to ensure quality and accurate document preparation and a smooth closing process.What Happens at a Real Estate Closing?
You have entered into a real estate purchase agreement and you have a closing date, now you are wondering what happens next? Once all of the preliminary paperwork is complete and you are satisfied with the numbers, it is time to finalize the transaction. Finalization happens at Closing when the Buyer and Seller execute all the necessary documents to effectuate the real estate transaction. Typically, the real estate closing takes place at our law firm but we are flexible to meet where it is convenient for you. You will meet with your attorney to complete the transaction and execute the necessary documents. Your attorney or Title Agent are present to ensure you complete closing documents accurately, which usually involves signing the right documents. Once all of the documents are finalized, the attorney or Settlement Agent will write all the proper checks made payable to the involved parties and for certain expenses you have reviewed and pre-approved with your attorney. These expenses include property taxes, transfer taxes, real estate commissions, title insurance, homeowner’s insurance, and other approved costs and fees including proceeds from the transaction.
Afterwards, our in-house Title Agent and attorney is responsible for ensuring the Warranty Deed and Deed of Trust (if a loan is involved this is the security instrument) are correctly drafted, executed, and recorded in the proper county after the transaction is complete. You will receive the original Deed to your property and a copy of your Title Insurance Policy.What is Title Insurance?
When you purchase real property, it is necessary to obtain Title Insurance. Title insurance is insurance to protect real estate owners and lenders against any property loss or damage they may experience in the future due to defects in the title (ownership) to the property, liens, and encumbrances. Our law firm has an in-house Title Settlement Agent registered with Old Republic Title Company and will handle this aspect for you.
Call one of our real estate closing attorneys today (615) 859-1328 to get started on your real estate transaction.