Closing on Your Property

Closing on Your Property

You have reached the final step in the buying process! At the closing, the seller officially signs the deed over and ownership is transferred to the buyer. The lender provides payment of the loan balance, and closing costs are paid. Typical closing costs include title insurance, prorated property taxes, homeowner’s insurance, HOA fees, title insurance, and title search costs. Closing costs are usually paid by either the buyer or seller, and can vary by transaction and location custom.

Once this has taken place, the buyer receives the keys to their new home!