When a person buys or sells a home, the two parties have to negotiate a closing to finalize the sale of the house. The closing day is the last step in the real estate transaction. The keys are given to the new owners and the previous owners officially no longer hold the title to the house. Many people wonder whether or not they actually are required to attend the closing meeting. It depends on their position in the transaction. The buyer should attend the meeting because of the complexities that are associated with the closing and its associated costs. Buyers often have to deal with their lender so often times, the seller comes to the office beforehand, signs the pre-approved documents and gets the final closing statement. Their lender will have to review it with the seller whether in person, by phone, or email, and confirm the numbers are in order. Many times in today’s closings, the seller actually don’t go to the closing. After the seller signs the pre-approved documents and receives the final closing statements, we take care of the closing with the sellers and make sure they get the funds either through wire or through a check right after the closing.
If you are selling a home and you cannot be at the closing for whatever reason, it is important to contact your attorney at the soonest possible time to let them know of your circumstances. Once you inform them of this, they can begin the process of allowing you to sign the necessary paperwork and expedite the closing process as quickly as possible.
Juan C. Velasco, Esq. is a trusted attorney who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.