What are some of the key documents signed at the real estate closing?
There’s just a few key documents signed at a closing, and there’s a lot of superfluous documents signed at a closing. In an all cash transaction, the seller gets the cash, the buyer gets a new deed. Where there’s a bank involved, the note and mortgage are going to be part of that process. The note is a promise to repay the money that you’re borrowing. The mortgage is the lien on the property. At any closing you’re going to sign dozens of other documents. Title affidavits, federal disclosure documents. So, a lot of paperwork at a closing, but there’s only a few key ones that are really important.