contract through closing | Legalwiz.com - 0 views
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maher muhawieh on 17 Jun 10Once you have your property under contract, you can proceed towards closing. Three things need to happen before you can close. First, the buyer's lender must produce the funds. Second, your mortgage, or any other lien on the title, needs to be paid off. Third, once the title is clear, you can take the final step and sign it over to the buyer. Then you've closed on your house. So is it that simple? Not really. You need to understand what happens between contract and closing, often referred to as "escrow". http://www.legalwiz.com/contract-through-closing