Real Estate Transaction Closing
A real estate transaction usually closes (finalizes) within 15 to 45 days depending on the time limit stated in the contract. If the buyer is obtaining financing, it is best to close within 30 to 45 days. If the buyer is paying cash, 15 to 30 days is usually enough.
It is required that the closing be held by a closing company who makes sure your property’s title is clear and provides you with a title insurance policy. Usually, real estate attorneys are employed at such closing companies, and can assist with any complex legal or tax questions during the transaction. The closing company does not represent either the seller or the buyer, and thus it can be a good resource to both parties.
Real estate closings are very simple; they can even be done in your home state or in a foreign country if you happen to be abroad. As long as you have access to a local notary authorized by the United States (or you may visit the local US Embassy to get documents notarized), the closing can be carried remotely and smoothly with you not even having to be here locally. That may sound strange to some people, but remote closings happen all the time in Florida. Some buyers even purchase properties sight unseen. With that said, some lenders require foreign buyers to be in US territory when they close on a property purchase, so keep that in mind if you are not a US resident and plan to obtain financing in the purchase.
Overwhelmed? Don’t be! Carlos German & Team is here to make the process easy for you. For more information, complete the form below or call us at 407-910-2553 or 1800-383-8455. We are ready to help you with your real estate needs!