How does a real estate closing work?
A real estate closing is completed when the seller conveys the title to you by deed, you give the purchase money to the seller, and the appropriate documents are recorded with the Register of Deeds office in the county where the property is located. The closing will probably be handled by an attorney chosen by you. In many transactions, the attorney may also represent the lender and the seller. The seller may hire his pr her own attorney or pay your attorney to prepare the deed to give to you. Make sure you know “up front” who the attorney is representing. Others involved in the transaction may recommend or offer you financial incentives to hire a particular closing attorney, but you have the final word. Prior to closing, the seller should give the closing attorney a copy of the deed to the property.
