Braxton

Realty

Group

BraxtonRealty@Gmail.com

Customer Support

Mon - Fri: 9 AM - 6 PM

Eastern Standard Time

Closing Instructions

Persons Involved

Actions

Buyer - Seller - Agents

Contract Successfully negotiated – all copies delivered.​

Buyer - Seller - Agents

Home Inspection ordered & performed (Seller asked to be present). Report Issued – Repairs Negotiated.​

Buyer

Makes formal loan application – pays for credit report & appraisal. ​

Lender

Orders credit report – appraisal – solicits verifications.​

Seller - Appraiser

Appraisal performed. (Buyer – Agent may be present.) Report sent to lender. ​

Lender

Receives all documents – sends file to underwriter. (If necessary – file is sent to PMI Company for their approval.) Loan Commitment Issued.​

Buyer or Agent

Orders termite inspection (all parties notified). Notifies attorney to do title search – prepare seller’s deed. Homeowner’s insurance is purchased. Termite inpsection performed – report issued – any treatment paid by seller. Closing Date Is Set.

Buyer

Utilities ordered in buyer’s name as of closing date. Moving van ordered.

Seller

Final meter readings for utilities ordered as of closing date. Moving van ordered. 

Lender

Forwards final closing package to attorney.

Attorney

Runs final update search on title – delivers HUD statement to agents.

Agent / Broker

Forwards earnest money deposit to attorney.

Buyer - Agent

Perform final walkthrough inspection prior to closing.

Buyer - Seller - Agents

Settlement: Seller signs Deed – Buyer signs Note & Deed of Trust. Title Insurance issued – Buyer pays attorney by certified check per HUD-1 statement (purchase price – closing costs – inspection fees – miscellaneous fees). 

Attorney

Closing: Records all necessary documents at County Court House. Disburses funds: Agent’s check – seller’s proceeds – all items agreed upon at settlement meeting.