Closing is the eagerly anticipated culmination of the real estate transaction. The parties convene at the law firm or title company office to execute all required documents. The buyer and seller,if applicable, remit any remaining funds due, and the attorney or settlement agent disburses funds as set out on the HUD-1 Settlement Statement. Following is a list of the documents that a seller will sign at a typical closing:
HUD-1 Settlement Statement:
sets out all receipts and disbursements made by, on behalf of, or to the buyer and seller in the transaction.
that the closing attorney/settlement agent represents the lender.
IRS form 1099:
reports the sale to the IRS.
conveying title to buyer; deed may take one of several forms:
Deed - warrants title against the claims of all persons;
or Special Warranty Deed - warrants title against the claims
of all person claiming loss as a result of seller's ownership;
Deed - contains no warranties as to title.
Where applicable, seller executes sworn statements relating to:
name variations or "aliases"
• knowledge of matters relating to the title
• other matters specific to the particular transaction