Now that the appraisal and inspection have been completed, we are in the home stretch! The buyer should be obtaining final loan approval within 3 days of the closing date. Once that is obtained, the closing disclosure will be sent from the lender for the buyer to sign and the title company will be reaching out to all parties to arrange signing. The final walkthrough should occur at some point prior to closing. Usually it is best to schedule this the day before or the morning of closing and the purpose of this is for the buyer to be able to confirm repairs have been completed, and that the property is in relatively the same condition as it was during the showing. No new holes in the walls, leaks, missing appliances that should have stayed, and the property is ready for transfer of ownership. If there is an issue, title should immediately be notified and an extension of closing be negotiated to get the property back to acceptable condition. Signing should occur a day or two before closing or the day of. Once all parties have signed, the documents then get sent for final approval from the lender if there is one, then funds are sent to title. Once the funds have been received, title will then submit to the county for recording confirmation. That recording confirmation can take some time to receive, essentially anywhere between 8am-5pm. Once title receives the recording confirmation, they will notify all parties, and this is when the sale has officially closed. For any additional questions, contact your title company and lender as they will be working together for this final and most important task!
