Closing

This is the last stage of the buying process. There are two types of closings, round table closings and escrow closings.

Round table closings happen with all parties sitting at a table and signing all the documents together. Parties may require an attorney for closing. A lending officer is at this closing as well. The parties sign all the title documents, the bank releases funds, and the owner passes the keys.

Escrow closings occur with the parties meeting the title agency separately. The buyer will meet with the title agent and complete lending agreements and/or release funds. The seller will later meet with the title company and complete the transaction by signing the deed over.

As mentioned a few times, there are costs involved.