Your lawyer can also help you determine any tax consequences of the sale. Earnest money is deposited in a trust account. Buyer makes application to their lender for financing. Buyer's lender has appraisal done. Lender places order for title commitment with title company of buyer's choice.
Title company examines all of the above and prepares a title commitment.
Title problems, if any, are resolved. Parties are notified of closing date and time. Seller's attorney begins to prepare closing documents. Lender prepares their loan documents and forwards to title company closer. Title company closer prepares and balances the final HUD-1 Settlement Statement with Seller's attorney according to terms of the purchase agreement.