A Minnesota Real Estate Closing – What to Expect

For most property buyers and sellers, a real estate closing is an extraordinary experience. It’s an event most people experience only a few times in their lives. It’s no wonder that the typical home buyer and seller is more than just a little anxious about closing day. Knowing what to expect can help you prepare for what can be a trying experience and help you get through the process with a minimum of stress. A good Title Services Company, like Trademark Title Services, can help make a closing a pleasure, too, instead of a tension-filled process.

Preparations for The Closing: If everything goes as planned, you’ll know the closing date for your transaction early in the process. That will give you time to make all necessary preparations well in advance. You should expect your Title Services Company or your agent to have supplied you with a detailed estimate of closing costs, specified any payments or documents you may need to bring with you, and to have prepared you for what will transpire during the closing. For many people, real estate closings can produce anxiety, so get a good night’s sleep before your closing and expect things to go smoothly. With Trademark Title Services, you’ll know that every detail has been planned carefully and you’ll have all the information you need.
Who Will Attend The Closing? The attendees at a closing vary, depending on many things. Typically, you can expect to find the buyers and sellers there, along with their real estate agents. The Title Services Company will supply a closer and usually an assistant to manage the process. Any of the parties may also bring an attorney to the closing. In complex property transfers, this is often an excellent idea, but attorneys may not be needed in simpler transactions.
Scheduling Your Closing: Allow adequate time for your closing. Some closings take less than an hour, but a closing can sometimes take much longer, depending on many factors. Your Title Services Company will provide a good estimate of the time required. If you’re planning to move into a new home on the same day after closing, be sure to schedule an early morning closing. Most experts advise against attempting a same-day move, however. It just adds to the stress.
What You Should Bring: Since some documents will need to be notarized, bring government-issued photo identification for each principal party. Also, bring all documents you are asked to bring, arranged so that you can access them easily. Any certified bank checks you will need should be prepared in advance and payable to yourself. You will endorse them to the Title Company at the proper time during the closing. Bring your personal checkbook, as well, since amounts stated in closing cost estimates can change for various reasons. And don’t forget any eyewear you may need for reading. Your real estate agent or Title Services Company will provide quite accurate estimates of all charges and inform you about any other items you need to bring to the closing.
The Closing Environment: You should expect the Title Services Company to provide a comfortable, spacious, well-lit conference room for the closing. In most cases, this location will be as convenient as possible for all parties, and will be selected well in advance. Trademark Title Services, has several closing locations located throughout the Minneapolis St. Paul metro area. All are comfortable and spacious.
Signing Documents: During the closing, you’ll be signing multiple documents. Each will be presented by the Closer or assistant, who will indicate where they are to be signed and initialed. Pens will be provided. It’s important that you understand each document fully before signing it. Take your time, and ask any questions you may have during the process. While it can be tempting to rush through this process, don’t hesitate to read any document fully or to ask any questions you may have. At Trademark Title Services, we know how important these documents are and we’re always prepared to answer your questions. While we cannot provide legal advice, we can help you understand any of the documents. The number of documents varies, but there are always more than you expect.
Exchanging Funds: As a buyer, you will have closing costs and other payments to make, and will have a certified check from your lender in most cases. All major payments are normally made with certified or bank checks payable to yourself. These will be endorsed over to the Title Services Company, which then distributes the funds according to the pre-arranged agreements. You should be told the estimated amounts of these payments at least 48 hours in advance of closing. Trademark Title Services will make certain you have all the information you need well in advance.
Wrapping it All Up: Once all the documents are signed and the money involved in the transaction is paid, ownership in the property passes to the buyer. The buyer gets the keys to the property, along with a big packet of documents. There are handshakes all around, and the closing is complete. Everyone breathes a sigh of relief at the end of every closing.
After the Closing: While the buyer and seller, along with their agents are done at this point, the Title Services Company still has work to do. Deeds, mortgage documents, and other documents must be recorded and all funds properly disbursed. A short time later, the original deed and other documents are delivered to the parties in the transaction.

Trademark Title Services – Managing Twin Cities Real Estate Closings

A real estate closing is a complicated process – one that often produces stress in both buyers and sellers. Reducing that stress to an absolute minimum is a primary concern for every Trademark Title Services Closer. At Trademark Title Services, our Closers and their assistants have handled countless closings. They carefully plan and organize each closing, making sure that everything is in order and that the process will go smoothly. All parties receive all the information they need well in advance of the closing, and we take special care to provide accurate closing cost estimates to avoid surprises. Every question is answered clearly and simply during the closing. Most importantly, we work to facilitate a pleasant atmosphere and manage each closing to produce smiles instead of worried frowns on all sides. You can count on Trademark Title Services for smooth, well-orchestrated closings every time.