When you get the call to schedule your mortgage loan closing, you’re in the homestretch of owning a home. The mortgage closing or settlement typically occurs between four and eight weeks from the time both parties reach an agreement regarding a real estate transaction.

During the mortgage loan closing, both buyer and seller will sign documents transferring ownership, and payment will be made. There is a great deal of paperwork involved, and it can be somewhat daunting, especially to first-time buyers.

The buyer’s real estate agent and representatives from the lender, title insurance company, and attorneys for both parties often attend the closing along with the buyers and sellers. You may, however, request independent appointments to execute the closing documents.

Once the clear title has been established, a closing date will be set. Be sure to bring government-issued identification and any other requested documentation to establish that you are an Indian River County resident. Closing cannot take place without confirmation of your identity. You will also need to have any fees not covered with the mortgage loan with you in the form of a cashier’s check or a wire transfer.

 Prior to the closing date, the mortgage company (if there is one) will send the funds to the closing company to disburse to the seller after deducting applicable fees for title work, documentary stamps, listing and selling agents fees, etc. The title agent with the closing company will then walk you through the documentation to be signed. The fully-executed documents must be notarized before escrow funds can be disbursed.

You will then receive the keys to the property and copies of the documents, which signifies the closing process is complete and you are the proud new owner of a home.

Understanding the loan closing process before making an offer on the house is very helpful in achieving a smooth closing on the purchase of the property. Licensed Florida attorneys founded Fleet Title to bring high-quality, fast, and efficient title services to the residential and commercial real estate markets throughout the State of Florida. Our attorneys have closed real estate transactions for over 25 years. At Fleet Title, you will benefit from our experienced attorneys at the cost of a title agent. To learn more about the services offered in Vero Beach, visit fleettitle.com, call (772) 224-3338, or email them at info@fleettitle.com.