Closing On House Process

The property expected to house a 4,000 square-foot location with 30-plus employees. owner Don Haley previously said they wanted to stay in Genesee County and looked at possibly closing the Davison.

Also known as "settlement" or "escrow," closing is the day home buyers officially take ownership of a home. Here’s what to expect from the closing process.

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And in real estate, the magic day is closing. Unlike those other big life-changing moments, closing day (or settlement day) is short on ceremony and long on signing. Closing day can also seem mysterious and confusing, so here’s a rundown of what you should expect.

The Escrow Process. Some states like California require all real estate transactions to use escrow services. Escrow opens with the contract and GFD, which is usually anywhere from 1 to 3 percent.

Closing costs and prepaids factor into mortgage loan comparisons. Understanding what is included in closing costs for buying a house and the difference between prepaids, closing costs and other fees associated with closing can help you shop for lower mortgage rates.

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13 steps to closing a real estate deal 1. Open Escrow. 2. Do a Title Search and obtain title insurance. 3. find an Attorney. 4. Get Pre-Approved for a Mortgage. 5. Negotiate Closing Costs. 6. Complete the Home Inspection. 7. Complete the pest inspection. 8. renegotiate the Offer. 9. Lock.

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