| Closing |
The
closing (also commonly known as "settlement")
is the final step when selling a home. This is where money
and keys are exchanged. During this stage, many documents
are signed by both the seller and the buyer. In fact,
the buyer has to do much more to prepare for closing than
the seller (see our Buyer's
Guide: Closing section for more valuable information
on closing from a buyer's perspective). Once the closing
is over the buyer is now the new owner. The seller usually
will need to move prior to this, unless there is another
agreement between seller and buyer.
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