The process ceases if not approved. 7 - Attorneys for the Title company draw up deeds, notes, etc. per instructions from the Lender. 8 - Title Company issues a commitment for Title Insurance and orders the survey. 9 - Title Company compiles the Settlement Statement which reflects the closing costs of both Buyer and Seller. 10 - The closing takes place the Title Company or at a Real Estate Attornye's offices All documents are signed.
Money is collected and disbursed.
Title is formally transferred and documents are recorded at the County Clerk. Closing is a major process in a real estate transaction. It can be complex and sometimes difficult, but the process is designed to protect both buyers and sellers and produce the results both are looking for.