Before ownership is officially transferred to the buyer, the closing process takes place. During this phase, if the buyer is using financing, they will sign mortgage documents, pay closing costs, and sign other necessary legal documents. If the buyer is paying in cash, they will either provide a cashier’s check for the amount listed on the Settlement Statement or arrange a wire transfer to the title company.
As the seller, you’ll also have some closing costs to pay, either at closing or deducted from your sale proceeds. In Arizona, as an Escrow State, the closing process differs slightly from other states.
Before ownership is officially transferred to the buyer, the closing process takes place. During this phase, if the buyer is using financing, they will sign mortgage documents, pay closing costs, and sign other necessary legal documents. If the buyer is paying in cash, they will either provide a cashier’s check for the amount listed on the Settlement Statement or arrange a wire transfer to the title company.
As the seller, you’ll also have some closing costs to pay, either at closing or deducted from your sale proceeds. In Arizona, as an Escrow State, the closing process differs slightly from other states.