We’ve successfully marketed your property and obtained a ready, willing and able buyer. Most likely a home inspection will have been completed at the buyer’s expense and repairs or credits may have been negotiated. A buyer who requires a mortgage will need at least 45 days to close during which time, their loan will be underwritten and an appraisal will be completed. I will be coordinating many “behind the scenes” activities to make sure the house is ready for closing. I will coordinate the home inspection(s), appraisal, possibly contractors, smoke/carbon monoxide detector installation and inspection, oil tank readings, water meter readings, assisting you with moving details, closing attorneys, title companies and more. There are many people/parts involved in bringing a property to closing and I make sure every piece of the puzzle is in place. If you’re an out of state seller, we must make sure paperwork is filed with Rhode Island’s Division of Taxation prior to closing.
The closing will likely take place at an attorney’s office at which time you will convey a notarized deed to the buyer and sign other closing documents. If you’re not able to attend the closing, the deed can be signed beforehand and a Power of Attorney can sign the documents that must be signed the day of the closing. A photo ID must be presented. Keys will be exchanged at the closing. The attorney will record the new deed at the town hall; once on record, the transfer of property is official and your proceeds can be distributed to you. The recordation may be that afternoon or the next morning.