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| I will go the "extra mile" for you |
| Real Estate with Joy |
| Joyce Erskine-Jordan REALTOR®, GRI |
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Each RE/MAX office independently owned & operated.
| What happens at settlement? |
Although settlement details vary from area to area, three basic steps are always taken: you, as the seller, prove you
have marketable title; the buyer pays for the property; and, you give the buyer a deed or bill of sale. Settlement
usually takes place in one to two hours.
Specifically, you sign the settlement papers and the deed. Your buyer signs the settlement papers and mortgage
note.
All payments by you and your buyer are detailed and on standard federal settlement forms. You pay for your closing
costs and your buyer pays whatever is owed on the down payment plus the buyer’s closing costs.
You receive, either now or shortly after settlement, any money kept in escrow for taxes and insurance and unused
prepaid items, such as insurance. Disbursements of fund may be at settlement or within 7 to 10 working days.
When all papers are signed and checks have changed hands, you hand the buyer your keys. Your house is sold
and the transaction is officially settled when the papers are recorded.
have marketable title; the buyer pays for the property; and, you give the buyer a deed or bill of sale. Settlement
usually takes place in one to two hours.
Specifically, you sign the settlement papers and the deed. Your buyer signs the settlement papers and mortgage
note.
All payments by you and your buyer are detailed and on standard federal settlement forms. You pay for your closing
costs and your buyer pays whatever is owed on the down payment plus the buyer’s closing costs.
You receive, either now or shortly after settlement, any money kept in escrow for taxes and insurance and unused
prepaid items, such as insurance. Disbursements of fund may be at settlement or within 7 to 10 working days.
When all papers are signed and checks have changed hands, you hand the buyer your keys. Your house is sold
and the transaction is officially settled when the papers are recorded.
| 10525 Timberwood Circle Louisville, KY 40223 800-444-1946 Ext. 193 TF 502-992-4193 Direct 502-425-6222 Fax email Joyce |
