I’m curious about the closing process when selling my home to an investor. What should I expect?
A normal closing? Not sure what you mean, but lawyers handle everything, and it’s the same as selling to a non-investor.
I don’t know what to expect at a regular closing either, to be honest.
Basically, you and the buyer would meet with each other’s lawyers and sign a huge bundle of documents. While signing, the title company ensures everyone gets paid what they’re owed and that everything matches up with the records. In the end, you give the keys, and they give you the checks. It’s basically an hour-long process with a lot of signing. (Edit: Based on a transaction in NYC with lawyers.)
It depends on the state if there are lawyers involved.
In many places, it’s possible to split it up so that the buyer and seller sign at separate times or even in separate places. This can help if there’s physical distance, scheduling conflicts, or any chance for drama between the parties.
In our state (we were the buyers), the sellers met with the title agency and signed all their paperwork a few days before we closed. They had to transfer funds to the title agency the day before. Our agent was with us and answered questions, but the title agent handled the paperwork. If our sellers hadn’t been home during the inspection, we would never have met them.
Strange. For mine, we will all be there, I believe.
I asked my grandma if that was normal, and she said she had never met the buyers, and she and my grandpa have sold three homes. Some friends confirmed the same.