Jackson, NJ Real Estate Blog

Blog by Matthew Genovese

Jackson, New Jersey

Information, observations and insights about all things going on in Jackson, NJ that affect the real estate market and can assist people who are interested in buying or selling properties in town.

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The Closing Process

Posted at Jackson, NJ Real Estate Blog by Matthew Genovese

Sep. 17, 2008

Although a real estate agent usually handles the pricing, marketing and negotiating, there are several additional steps to closing the sale once the the purchase and sale agreements have been signed.

Step 1--Removing contingencies: The most common contingencies are financing and the sale of thee buyer's current home. These conditions must be removed or waived before the sale can be cloosed.

Step 2--Appraising the property: The buyer's lender requires a formal appraisal to confim the value of the home, to be used as collateral to secure the loan.

Step 3--Preparing closing documents: Most often real estate attorneys prepare documents that confirm the transaction, pro-rate funds and so on.

Step 4--Signing closing documents: Even after both parties have signed closing documents and deposited funds, the sale may take a few more days to close.

Step 5--Recording the deed and disbursing funds

Step 6--Receiving proceeds and welcoming the moving van

Step 7--Turning over the keys to the buyer.

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