Tennessee Property Closing
For Sale By Owner (FSBO) Information
--About Closings
What Is A Real Estate Closing?/What Happens?
The sale of your property is not complete until all appropriate documents are signed and executed. The term executed means that after each party has granted approval by signing the appropriate documents that the transactions are all recorded in the appropriate government and lending offices. At that point you have officially completed the sale of your property.
Most closings should be performed with an approved certified closing agent present because most people need or want someone to interpret the documents for them. Someone with years of experience, like the staff at Affordable Closings, understands how to explain the terms so that you will understand the documents easily. If you are unable to attend an in-person meeting or if you are comfortable with interpreting legal language, the documents can be delivered to you by mail for you to sign and return in a "mail out" closing.
*Documents required at real estate closings in the state of Tennessee are listed below. Affordable Title performs both Tennessee realty closings and remote closings.
Call us at 615-874-0088 with any title insurance or realty closing questions.
What Does the Closing Agency Do?
Closing agents perform a variety of very important tasks:
- Collect all of the appropriate documents for the financial and legal issues related to the sale and assembles them for you.
- Create the required HUD statement. (We have a manual to understand the HUD statement here.)
- Record the information with the appropriate government agencies so that there is a clear record of your sale.
- Record the information with your lending institution and the buyer's lending institution so that your old loan is paid off and the buyer's loan is set-up properly.
- Ensure that all bills on the property are paid and cleared and that you receive the right amount of money from the proceeds of the sale.
- Perform a search of Tennessee property data to locate liabilities attached to the property and discloses them to you and the buyer.
- Issue a Title Insurance Policy so that the seller and the buyer are protected if there are any problems with the title--read more here.
Still have questions about closing statements and costs, Tennessee property tax liability, commissions to real estate agents, title insurance rates, or other realty topics?
We are here to help. Call us at 874-0088 or click here for our contact form here
How Should I Choose Who to Perform My Closings
A good title company meets the following criteria:
- with Residential Real Estate Closings
- of TN Property Data
- Choice of Title Policy Underwriting
- Work quality and Timeliness
- Accessibility
- Track Record with Customers
- Expansive Services
- Competitive Rates / Fees
Our About Us page explains how we meet these criteria, or feel free to contact our Nashville or Brentwood Offices at 615-874-0088
What is the Buyer Responsible For/What is the Seller Responsible For
The Seller Before Closing |
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The Buyer Before Closing |
- Complete property repairs in time for a final inspection before closing.
- Your contact phone number
- Your marital status
- Termite (WDO) letter, septic letter, (and any invoices for these items)
- Your mortgage/lender documents
- Payoff information for any and all loans associated your Tennessee property
- TN Homeowners' Association's name and number (if applicable)
- TN Homeowners' Association's dues and fees (if applicable)
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- Complete all paperwork with your mortgage company ASAP. (We depend on them completing their work before we can close.)
- A contact phone number
- Your marital status
- Your mortgage/lender information
- Your homeowner's insurance information
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Seller Brings to Closing
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Buyer Brings to Closing
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- Proper picture identification (such as a Driver's License or Passport)
- A cashiers check if you owe money at closing - (You may opt to wire our escrow agent the closing funds. Call us for wiring instructions.)
- Your spouse--unless he/she is not a co-borrower on a loan and your mortgage company provides an assurance that it is acceptable that your spouse not sign any documents
- Extra keys to the property
- Garage door opener
- Alarm information (if applicable)
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- Proper picture identification (such as a Driver's License or Passport)
- A cashier's check. You may wire us the closing funds. (Call us for wiring instructions.)
- Ensure that you have Homeowner's insurance for the property in question unless it is a cash sale.
- Your spouse--unless your spouse is not co-borrower on a loan and your mortgage company provides an assurance that it is acceptable that your spouse not sign any documents.
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is a Nashville Title agency committed to helping you sell your Tennessee property efficiently, effectively, and affordably.
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