The Closing – What to Expect

A popular option for sellers in Wisconsin is to pre-sign your paperwork a few days in advance. You will meet with your title company maybe a day or two before the actual closing at a time that is convenient for you and sign all the documents that are required on the seller side. The big advantage of pre-signing is that it takes one variable (the seller side) out of the equation for the actual closing day, because your documents have been reviewed, approved and signed and you don’t need to be present for the actual closing.

If you pre-sign you know that all documents are signed and ready to go and you don’t have to take the day off work to be at the actual closing. This option is convenient in particular when moving out of town – you can already be on your way and your agent will represent you at the closing.

If you chose be there for the actual closing, the title company will usually have two separate rooms assigned for the seller and the buyer side. The buyer side usually takes significantly longer, up to an hour, because they have all the loan documents to sign. If you like you can meet your buyer in person, hand over the keys and any other information that might be beneficial for them. If you want to meet your buyer or not is really a very personal decision for you and also for the buyer; a lot of people are private and prefer to not meet at all.

On the buyer side the lender will be present and the closer form the tile company. At this point funds have already been wired by the buyer (down payment) and the lender (balance of the purchase price) to the title company. Once the buyer has signed all the closing statements and financing paperwork (unless a cash deal) the title company will transfer title in their name, record the deed and wire the money from their trust account into your bank account which you have specified before. It can take 4-6 hours before the fund show up in your bank account, which could mean the next day, so don’t get nervous when you don’t see them right away. If you are not present for the actual closing the final documents with the buyers signatures will be mailed to you.

At this point ownership has officially transferred, money has changed hands and  it’s time to celebrate; your house has officially sold and you can move on to your next stage in the property ladder!