This is a generic form for the sale of residential real estate. Please check your state=s law regarding the sale of residential real estate to insure that no deletions or additions need to be made to the form. This form has a contingency that the Buyers= mortgage loan be approved. A possible cap is placed on the amount of closing costs that the Sellers will have to pay. Buyers represent that they have inspected and examined the property and all improvements and accept the property in its "as is" and present condition.
Closing Property Title With Mortgage In Wake
Category:
State:
Multi-State
County:
Wake
Control #:
US-00447BG
Format:
Word
Instant download
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FAQ
If you don't have a Land Registry record to prove ownership, you will need the physical deed. These documents demonstrate you own the property and can help confirm no mortgages or liens against it.
Closing, also known as settlement, finalizes the sales contract by resolving all obligations between the buyer, seller and any other involved parties. In simple terms, it's the final step in legally transferring homeownership. Closing on a house is one of the most fulfilling moments in the home buying process.
Mortgage Pre-Approval Is a Good Idea. Open an Escrow Account. Title Search and Insurance. Hire an Attorney. Negotiate Closing Costs. Complete the Home Inspection. Get a Pest Inspection. Renegotiate the Offer.
The short answer is: You, the homeowner, typically hold the deed to your house, even when you have a mortgage.