The closing process requires several essential documents to ensure a legally binding transaction.
Some of the key documents include:
Purchase Agreement: This document outlines the terms and conditions agreed upon by the buyer and seller.
Deed: The deed is the legal document that transfers ownership of the property from the seller to the buyer.
Closing Disclosure: This document provides an itemized breakdown of the closing costs and other financial details.
Title Insurance Policy: This policy protects the buyer and lender from any potential ownership disputes or claims against the property.
Loan Documents: If financing is involved, various loan documents will be required, including the promissory note and mortgage agreement.