How to Get Prepared for the Closing Process
The closing process is the culmination of the contract—the transaction that has taken place between the buyer and the seller. Closings typically take place at a closing attorney’s office. The buyer’s side of the transaction generally chooses the closing attorney. It’s important to keep in mind that the closing attorney does not represent the buyer or the seller when there is financing involved. In that case, the closing attorney actually represents the lender. Although, sometimes the attorney is chosen by the seller’s side of the transaction. For example, if the seller is dealing with probate, they may choose to use the attorney they’ve already been working with to handle the closing for a smoother transaction. If you are buying a new construction property, the builder will choose the closing attorney. Builders are very fond of their closing attorneys and will do what they can to keep their closings all in one place. It’s more convenient and it helps the builder with record keepi...