Step-7: Closing / Possession

closing tableClosing on the property is usually handled by the Title Company which issued the title opinion and title insurance policy commitment.

Buyer or Seller has the choice of selecting the Title Company used according to the Commission-approved Contract to Buy and Sell. If the Buyer elects to choose the Title Company, the Buyer will pay for the Title Insurance.  This is not common.

We will be with you to provide answers and assistance for you during the closing process which usually takes from 30-90 minutes. We will be sure to review all settlement statements for you as Seller for accuracy and reasonableness.

You do not need to attend the closing at the same time as the Buyer, or indeed, at all if it is not convenient.  I will have many options for you to choose from to complete the closing by the closing date.

Time of possession is established at the time of negotiating the original offer. In Summit County, it is customary for the Buyer to take possession at closing. If the Seller wishes to stay in the home beyond these dates, this is negotiated between the Buyer and the Seller and involves a rental fee payable to the Buyer after closing.  This is not common and adds complexity to the sale process.

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