Congratulations! Now we have a signed contract binding the seller and the buyer to the agreed terms.
What happens next? The seller usually is the party that chooses their preferred Title Company and the Escrow Officer to manage the transaction from the moment they receive a contract to purchase a property.
Seller customarily is responsible for the “Owner’s Policy” or “Title Insurance” cost to transfer a clean title to the new owner. The whole process from “Contract to Close” it takes normally 30 days. Before closing the title company will deliver to you closing estimate to show all the debits, charges and your net proceeds from the sale to review with your agent and approve it.
An experienced agent will co-ordinate for you all the steps, will be able to play ahead and solve issues that may arise along the way, working as team with the title company and the buyer’s lender. She or he, will also advice how to comply with the contract conditions of the sale to avoid any misunderstanding with the buyer that could delay the closing.