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Close the Deal

December 10, 2023 - 9:44 AM EST

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Close the Deal

At the closing meeting, you and the buyer complete the final requirements of the contract to legally transfer ownership of the real estate being sold. In addition to you and the buyer, attendees will include the closing attorney (typically representing the buyer and lender), and your and the buyer’s real estate agents. The meeting is typcially held at the closing attorney's office, although there is no legal requirement concerning location.

Typical Seller Activities

  • Ensure that the property is in move-in condition for the buyer’s final walkthrough.
  • Review net sale proceeds and other cash flows documented on the closing statement, typically a standard HUD-1 form.
  • Sign all remaining documents.
  • Receive a check with the net proceeds from the sale! The buyer receives the keys to their new property.1

The closing is the culmination of many weeks (or even months!) of effort. Before attending the meeting, you should become familiar with what will happen and what you'll be signing. The NC Real Estate Commission's Closings Q&A is a helpful reference. And your team is always here to guide you, empower you, and help you achieve real estate succes!

1 - While it is customary for the buyer to receive the keys at closing, the property is not legally the buyer’s until the closing attorney records the deed(s) at the county courthouse. The closing attorney is required to complete this activity as soon as possible after the closing meeting, preferably the same day or the next business day. In practice, this doesn’t deter many people from moving in right away, but we encourage scheduling closings such that same day deed recording is possible.