What happens at closing?

Normally buyers and sellers are both present along with their respective real estate agents.  Sometimes buyers and sellers are in the same room.  You can request to remain in separate rooms if you prefer.  If your schedules do not align, you may not see the sellers at all.

The title company will assure that all existing loans on the property are paid off.  As the buyer, you will sign a lot of paperwork, each document explained by a closing agent.  When the process is complete, ownership of the property will be transferred to the new owners.  The title company is responsible for sending legal documents for recording in public records.

If your purchase agreement calls for “possession at closing” you get the keys!  If your purchase agreement calls for “possession at a later date” as Ohio law allows…  well you get that awkward feeling of owning the house while the seller continues to live there.  Nobody really likes this very much, so if you have a hard time with it you are not alone.  It is a little weird celebrating your purchase when you cannot sleep at your new house tonight.

The best I can tell you is that the obligation to you by the sellers continues through possession.  We will remain in close contact and see it through to the finish line. In my experience, most sellers are happy to exchange contact information with you, should questions arise down the road.

Congratulations!

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