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Closing a Home Sale Manchester NH

Closing on a hone normally follows a reasonably well-outlined path from the time you sign your purchase agreement to the time the transaction is finally closed. Here are the typical steps along that path. Read through them so you know what to expect when you close on your home purchase in Manchester.

Lee Fitzgerald Real Estate Svc
(603) 665-9999
656 S Beech St Ste 2
Manchester, NH

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Re/Max Area Real Estate Networ
(603) 626-5000
685 Massabesic St
Manchester, NH

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LeaderGate Realty llc.
(603) 475-3668
10 w.appleton st
manchester, NH
 
Kas-Bar Realty
(603) 624-1766
65 W Merrimack St
Manchester, NH

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Roxo Realty Llc
(603) 645-4324
259 Hanover St Ste 2
Manchester, NH

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Real Estate Specialists
(603) 669-9085
1031 Gold St
Manchester, NH

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Erwin Real Estate
(603) 606-6579
150 Dow St Ste 12
Manchester, NH

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John J Flatley Co
(603) 641-8500
977 Elm St
Manchester, NH

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Era Masiello Group
(603) 314-1111
1230 Elm St
Manchester, NH

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Peloquin Realty
(603) 668-9923
161 River Rd
Manchester, NH

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Closing a Home Sale

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Closing normally follows a reasonably well-outlined path from the time you sign your purchase agreement to the time the transaction is finally closed. Here are the typical steps along that path:

  • A purchase agreement is drawn up outlining the terms of sale. The purchase agreement will be reviewed by an escrow or title officer, a neutral party responsible for overseeing the transaction, and set up a file for the transaction. He/she will take any deposit money required by the purchase agreement and place it into an account until the transaction is complete. If your deposit is large, make sure that your closing agent puts it into an account where it will earn interest during closing.

  • The closing agent will then order a preliminary report. A preliminary report examines the ownership of a property and figures out if there are any liens or other encumbrances which could inhibit the sale. If any issues are found, the buyer and seller still have time to clear them up before the transaction is closed.

  • Your closing agent will work closely with you to make sure that everyone involved in the transaction is closely following the guidelines laid out in the purchase agreement. If any problems arise, the closing agent will work with you to resolve them quickly.

    The closing agent will also work with the lender to help with the loan process. Lenders often require a number of inspections and insurance before they will issue a loan. A closing agent will usually handle these inspections for you and complete the paperwork necessary for loan approval.

  • All inspections necessary will be carried out under the closing agent’s supervision. Any problems found in the course of inspection will need to be repaired before the transaction can close. The closing agent will oversee the work necessary to repair the property.

  • The closing agent draws up an HUD-1, also known as a settlement statement, which gives an accounting of closing costs. You will be required to sign this document after it is drawn up, but you don’t have to pay closing costs until the transaction is actually closed. Closing costs must usually be paid with a certified cashier’s check.

    The HUD-1 is not the only document you will have to sign at this time. You will also be presented with escrow instructions, loan documents, the grant deed, your deed of trust, a fire insurance requirement form, a truth-in-lending disclosure statement, and a bill of sale, plus a number of other documents. This vast quantity of documents can be overwhelming. Never sign anything if you do not know exactly what you are signing. Talk to an attorney if you have any questions.

  • All of these documents will then be delivered to the lender by the closing agent, along with the original documents for the loan. Following approval by the lender, the closing agent will file the necessary documents with the county recorder.
    After recording, the agent will give final closing statements to all parties in the transaction. With these statements will be any other necessary documentation such as title or fire insurance policies or promissory notes. Any money held as a deposit will be distributed and the transaction can finally be completed.

    Visit Homesalesnetwork.com for more information

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