Closing Details

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The closing process finalizes the sale of your home. This is when you get paid and the buyer receives the deed to your home. 

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Make sure to bring these items to the closing:

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• House keys

• Entry key codes

• A valid photo ID

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What to expect:

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The closing agent will review the purchase contract and identify what payments are owed and by whom; prepare documents for the closing; make sure taxes, title searches, real estate commissions and other closing costs are paid; ensure that the buyer's title is recorded; and ensure that you receive any funds due to you.

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Sellers usually pay the following at closing:

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• Mortgage balance and prepayment penalties, if applicable

• Other claims against your property, such as unpaid property taxes

• Unpaid special assessments on your property

• Document stamps (or taxes) on the deed

• Real estate commission

• Legal fee or title insurance premium

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After the closing, make sure to keep the following for tax purposes:

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• Copies of all closing documents

• All home improvement receipts on the home you sold

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