What is a real estate closing?

A real estate closing is the process of finalizing a real estate transaction in the state of South Carolina. It is a legal procedure that occurs after all contractual agreements have been met and all the necessary documents have been signed. During the closing, an impartial third party, such as a settlement agent or attorney, will review all documents related to the sale, ensure that all the parties involved have agreed to the terms, and make sure that all taxes and other fees related to the purchase are paid. This can include obtaining a title search to ensure that there are no liens or claims on the property, as well as paying off any mortgage or other loan attached to the property. After the closing, title to the property is transferred to the buyer and the transaction is complete.

Related FAQs

What are the duties of a real estate broker?
What type of deed is best for my transaction?
What is a contract for deed?
What is the role of a real estate appraiser?
What are the duties of a real estate lawyer?
How do I evict a tenant?
What types of documents are used in real estate transactions?
What is a real estate transfer tax?
What are the rules and regulations governing real estate loans?
What is a home warranty?

What is a real estate closing?

Related FAQs

Related Blog Posts