Closing Step-by-Step (Buyer)

Real estate transactions can be exciting yet scary at the same time. It is important to understand the documents that you will be signing and the events leading up to  your closing. It all starts when a seller accepts a buyers contract, and that’s when we step in.

1. Wisconsin Title begins reviewing the title. Each property has a series of documents recorded at the local courthouse that reflect the prior owners, lenders and other parties who have (or had) an interest in the property that you are buying. The documents are examined by one of our licensed title examiners to identify all outstanding interests. This information is then forwarded to our closing department.

2. Mortgage issues are addressed. Our closing company works with your lender to verify dollar figures and other important details of the transaction. If a prior mortgage, taxes, utility bills, etc.. need to be paid it is worked out by our closing company.

3. The property is inspected. In most cases a professional inspector will conduct a home inspection of the property to insure the integrity of the property. Any problems that arise will then be worked out between the parties on the contract.

4. Closing Disclosure (CD). Your lender works with Wisconsin Title Services to prepare the CD which shows all the costs that will be paid at the closing and will confirm the amount needed to close.

5. Close on the property. At the closing (date, time & place is usually chosen by the lender) one of our professional closing agents will bring your closing papers. You will be asked to present a photo ID and the funds that you were told bring. Our closing agent will then be explaining the documents that you will be signing. After all papers have been signed by the parties, the funds are disbursed and the property is yours – congratulations!