Closing Information Part 4
At the time of closing, we will allocate the fees between the purchaser and seller in accordance with the contract, lender’s instructions and local custom. The closing will take about 45 minutes to an hour; however, occasionally there are last minute delays from one of the many servicing companies, especially at the end of the month. After you and the seller have signed the necessary documents, we will return the mortgage papers and proposed title policies to the lender for review and funding of the loan.
Upon receipt of the loan amount, we will disburse all proceeds as shown on the closing statement. Your home purchase is now complete.
While there are several steps to the closing process, knowing them will help you stay on top of your transactions and identify the cause of any obstacle or delay in closing. Contact us today for more information on making your closing a success.