Important Tips for Completing a Residential Contract for Sale and Purchase – Part 18: Standards For Real Estate Transactions

Closing Location; Documents; and Procedure

Part 1 of Section I discusses the location of the Closing and the Closing documents. The Location of the Closing must be in the county where the Property is located at either an attorney’s office or the Closing Agent’s office. It can be done by mail or electronically. The Closing documents must be signed and delivered by the Seller prior to the Closing. These documents include the deed, the bill of sale, certificate(s) of title or other documents necessary to transfer title to the Property, construction lien affidavit(s), owner’s possession and no lien affidavit(s), and assignments of leases. The Seller is required to provide the Buyer with paid receipts of all improvements done to the property that is outlined in the Contract. The Buyer in turn is required to furnish and pay for the survey, flood elevation certification and the other documents that are required by the Buyer’s lender.