The responsibility for title and closing costs is negotiated as part of the real estate transaction. The responsibility will vary based on the individual sale. In most cases, the buyers and sellers will split the costs associated with the title and closing costs.
Identification will be needed at the closing: A government-issued identification card such as a driver’s license or a passport. In some cases, two different forms of identification are required.
Additional paperwork may be required at the closing, such as proof of homeowners insurance, the results of a home inspection and other legal documents needed for the transaction.
Your spouse should accompany you if you are married. A form of identification from your spouse will be needed.
A cashier’s check should be brought to the closing in the total amount of the down payment and closing costs. Your mortgage lender will provide you the final amount prior to the closing, allowing you to prepare the check from the bank.
Expect the closing to last for about an hour. The length of time the appointment will take may vary based on the complexity of the transaction and the availability of funds. Both parties will be required to sign off on several different documents during the appointment.
The closing agent will be available to explain the details of all the documents you are signing and answer any questions.