do sellers have to be at closing?
28453
The seller does not have to be present at the buyers' closing. It is a common misconception that all the parties must sit around the table together at closing and exchange documents and keys. ... The closing attorney should explain to you when the closing date is set, and how you should receive your proceeds.
260853
When you buy a home from a family, the sellers are typically motivated to close in 30 to 45 days (they want to move, too, or they've already moved and don't want to pay two mortgages!) But asset managers at banks often have backlogs of work (especially today), so getting everything done may take longer.
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“There's no hard or fast answer, but typically if a buyer is getting a loan, the total under contract time is about 30 to 60 days," George explains. "If a buyer is paying cash, the closing can take place in as little as a week.”
342272
Standard procedure in our business is that the seller normally gets the date of close of escrow plus 3 days to move out. This means that if escrow closes on Monday, then the seller gets Monday (the day escrow closes) plus Tuesday, Wednesday, and must vacate by Thursday at 6:00 PM.
1332471
Either way, this could mean changing the real estate closing date because the buyer can't close without money to make the deal. ... It's up to the seller to pay the liens (or fight them in court), which can delay closing by weeks, if not months. Personal issues can also delay a closing, Hardy notes.
187641
If you end up selling the property to a buyer who isn't a landlord then the tenants must leave by the date agreed. If they refuse to do so, you will have to commence proceedings and apply to the court. This is long and costly and is something to be avoided, if at all possible.
644331
Buyers and sellers both generally have closing costs, and they typically range from 2 percent to 5 percent of the purchase price of the property. Closing costs can include real estate agent fees, transfer taxes, lender fees, title fees, and more.
760345
['Sign the contract. ... ', 'Verify proof of funds. ... ', 'Hire title and escrow companies. ... ', 'Pass the home inspection. ... ', 'Review and sign closing documents.']
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['A final closing disclosure. This is the final version of the document you received three business days before closing. ... ', 'Your Deed of Trust or mortgage. ... ', 'The promissory note. ... ', 'Creation of your escrow account. ... ', 'Payment of fees. ... ', 'Right of rescission.']
518204
Cash sales also take less time. Buyers do not need 30 or 45 days to close if they are not obtaining a loan. 3﻿ Once a home inspection and other contingencies have been satisfied or released, closing can take place in as little as seven days, provided that the buyer is willing to sign a lead paint waiver.
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Should the Seller Attend the Closing? Unlike the buyer, who may have to attend the closing to sign original loan documents delivered by the lender to the closing, you, as the seller, may or may not need to attend. ... You may even give your attorney a power of attorney to sign any incidental documents for the escrowee.
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The closing process on a home purchase can take anywhere from a week to 60 days, depending on the property type, whether or not you're buying with a mortgage and what type of loan you're taking out.
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Property sellers are legally required to disclose information about its condition that might negatively affect its value. Even if your state doesn't require disclosure of a particular problem, it may behoove sellers to disclose it anyway to prevent problems with a potential buyer.
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Technically, you're free to sell anytime after closing day. ... It's not just about selling the house for what you paid for it. You'll also need to factor in the costs associated with buying, the costs associated with selling, the equity gained or lost, and moving expenses.
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“At the actual closing … the only ones physically present are usually myself, the buyer and seller, title officer, and (sometimes) the lender will come too,” Friesen said. ... “Once the buyer or seller has signed the documents and the seller has done the same, the paperwork has to be submitted.”
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Choosing a Closing Date In most cases, the buyer chooses a tentative closing date and makes it part of the offer. The contract usually states that closing will occur "on or about" that date.
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A house can be sold “as is” when there is a lien or judgment against the property or seller. ... You don't have to pay these settlements before closing—liens against houses can be paid in multiple ways. Traditionally, a seller will pay these debts at closing where the debts are deducted from the proceeds of the sale.