ERA's Reston Area Realtors
Providing Superb Service
to
Home
Buyers and Sellers in
Northern Virginia
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The Settlement or Closing Process is the Last Major Event in the Home Purchase/Sale process ... Once complete ... The Buyer leaves the Settlement Office with the keys in their hands and is normally able to move right in (unless they've agreed to let the Seller stay on for a brief period). Normally the Buyer selects the Settlement company in their initial offer ... The Settlement company expects the Buyer (and Lender) to provide certified funds for the transaction. Once all signatures are in place, the Settlement company records the property transfer at the County Courthouse ... After recordation, the Settlement company pays off any outstanding Seller loans and is in a position to provide the remaining proceeds to the Seller. Typically an afternoon settlement will be recorded the next business day and funds will be available for distribution thereafter. Distribution to the Seller can (at the Seller's option) be by check, funds transfer the the Seller's account, or funds transfer to the Settlement office closing a possible Seller's subsequent home purchase.
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ERA Teachers, Inc. 555 Grove
Street, Herndon, VA 20170 |
