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Steps before closing a loan.

  1. Review all paperwork carefully bearing in mind the 4 important points above. You should get a closing statement at least a day before closing.

  2. Ensure that the buyer does not receive your deed until he has paid the down payment and his closing costs with certified funds. 

  3. Check there is hazard insurance on the property and that property taxes are current.

  4. Check through the documentation you receive.

  5. Make sure the borrower knows where to send their money.

  6. Make sure you get all the documentation back and it has been properly signed and notarized.

  7. Make sure you get your part of the closing proceeds.

  8. Make sure you get the original mortgage returned to you within 2-3 weeks.

  9. Make sure you get a title insurance policy issued in your name within 4-5 weeks.

Your licensed real estate broker will help you with all the above.

To learn more about selling your home:

 
bulletBooks on selling your home with seller financing.
bulletGlossary of real estate terms.

Return to our home page to learn how to manage your mortgage, collect payments or sell your mortgage for cash if you prefer.

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