Six Basic Steps to Closings

Closing the real estate transaction is basically the investigation made or actions taken by either a title agent or title attorney in order to cure defects in, or problems with, the title to the property before the actual issuance of the title policy. There are six basic steps that are usually followed in the same order in every real estate transaction.

  1. Title Search and Examination
  2. Determine Status of Property Ownership
  3. Notify buyer, seller, and lender of requirements for closing
  4. Prepare closing documents.
  5. Execute closing
  6. Record legal transfer of property