What should I know about the day of closing?

The day of closing when you are purchasing a home is an equally busy and exciting day for those involved. First, you must do a walk-through inspection of the home you are buying with your realtor. After the walk-through inspection, you will go to your attorney’s office. At the office, you will complete the closing documents and provide the necessary funds for closing either in the form of a cashier’s check, or you may wire the funds prior to closing. After the closing is completed, you will be provided with a copy of the closing documents and the keys from the seller, and we will congratulate you on your new purchase.

 When you are the person who is selling the home, you do not necessarily need to be at the closing. Although it is recommended that you attend the closing, you can instead just meet with your real estate attorney at an earlier time to sign all of the necessary paperwork and hand over the keys.

Another important aspect of a closing is the responsibility of having to pay the closing costs. The buyer and seller both have closing costs to pay but they are specific to each situation. They will both have to pay for the real estate agent and the attorney’s fees. The other types of closing costs may include, for example, the seller paying for any repairs requested by the buyer.

Your real estate attorney will walk you through the process of closing day and will explain to you all of the paperwork that needs to be prepared and signed for that day, as well as what closing costs apply to you. Contact an experienced real estate attorney who can answer any questions regarding your specific circumstances.

Joseph Gachko, Esq. is an experienced New Jersey attorney who can assist you in any of your real estate-related legal matters. If you require legal counsel for your real estate matters, please contact The Law Office of Joseph Gachko today to set up a consultation.