A few days before the closing date, the buyer should get the Clear to Close from his or her mortgage lender.  This means the buyer’s mortgage has been approved.  Once this is achieved the title company will have all documents necessary from all parties to put together the “Settlement Statement”.

Simply put, the Settlement Statement is a summary of all the credits and deductions agreed to by both buyer and seller on the Purchase Agreement.  A copy of that will be sent to us and we will review it to make sure it is accurate and very closely matches the estimated “Net to Seller” sheet we prepared for you once we got the offer. We will forward this to you, letting you know the great news, that our figures were right on!  We will also let you know the final exact amount you will be getting back to you at closing.  That amount can be given to you in the form of a check from the title company or it can be wired to you.  Make sure to bring a routing and account numbers for your bank if you want it wired.

Next Step 19:Moving Out and Final Walk Thru

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.