What happens at closing?

Many important transactions take place at a closing on real estate in Greater Salt Lake City/Park City according to Kathy Opolski, real estate expert. 

The buyer brings the money required for the down payment and closing costs, less any down payment already made.  They pay the money, sign mortgage documents and are given a Deed to the property. Every State has different laws regarding the details of a closing.  A very large textbook could be written on this issue.  Luckily there are experts to help buyers understand the process for their specific circumstances.  That is one of the many reasons why it is a good idea to hire a professional real estate agent or broker whenever buying or selling your home in the Greater Salt Lake City/Park City area.

How to prepare for closing?

The best way to prepare for a closing is to hire an attorney.  The next important thing to do is to listen to your attorney.  Remember that you hired them and they work for you.  Ask questions and do not settle until you have received satisfactory answers.  Your real estate agent or broker will work closely with your attorney to insure all of the documents are in order before you go to closing.

Who needs to be at closing?

Who needs to be at closing?  First of all, YOU!  Don't allow anyone to represent you at the most important financial moment of your life without taking an active role in the festivities.  Of course there are exceptions to this rule.  If the buyer is unable to be at closing, their attorney will act in their behalf as long as a Power Of Attorney has been signed. 

What happens at the end of closing?

At the conclusion of the closing the money is exchanged, usually in the form of bank checks, and the buyer leaves with keys to their new house.

There is a lot of free information available to you about buying, selling or investing in Greater Salt Lake City/Park City real estate. For complete information about the Greater Salt Lake City/Park City real estate market including current homes for sale, property values and more please visit the most complete website on line dedicated to everything Greater Salt Lake City/Park City real estate at www.KathyOHomes.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.
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