The Real Estate Closing Process

The Real Estate Closing Process in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

The process of closing a real estate transaction in the Des Moines area is easily understood with the help of a professional real estate agent.  Several important documents including legal documents are prepared, examined, and processed.  Financial transactions also take place.  It can sometimes take a few hours, but at the conclusion the seller walks away with the payment and the buyer walks away with the keys to their new home.

In order for the real estate to transfer from the seller to the buyer several documents need to be changed.  Documents are revised to reflect the name of the buyer.  It is important to note every document should be reviewed for accuracy prior to signing.  The real estate agents at RE/MAX Real Estate Concepts can help you understand the many items that will be reviewed during the closing.  It is advisable to hire an attorney prior to closing.  The purchase offer, or contract to buy the house, is the document that begins the closing process.  The deed, loan or mortgage papers, as well as other documents are processed.  It is important to have a clear title at closing.  Many home buyers in the Des Moines area opt to purchase title insurance.  When you consider the fact that a home is the largest investment most people make in a lifetime, the cost of title insurance is a smart investment.

There are several financial transactions that happen at closing.  The most obvious is the payment of the negotiated purchase price of the home to the seller.  Most often these funds come from a bank or other lending company.  The buyer agrees to pay back the loan under the terms of the mortgage documents.  The real estate agents are paid a commission at closing as previously agreed upon in their contracts with the buyer and seller.  The details are usually stated within the listing contract.   There are closing costs to be paid as well.  Standard closing costs in the Des Moines area include service fees, title search fees, credit report fees, appraisals, recording fees, attorney’s fees, and document filing fees.

With the help of a professional real estate agent in the Des Moines area, your closing experience can be an efficient, well informed, great experience that will end with the keys to your new home.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.