The Seller's Role in Closing
By Cathy Baker, Attorney at Law - Cleveland, Ohio
When Closing a Real Estate Transaction
Each party needs to bring with them all of the documents or funds necessary to complete the deal. The seller or sellers will generally need the following items for the closing:
Executed Deed
The seller needs to execute the deed by signing the deed. This symbolizes the transfer of something the seller/grantor has (the title) to the buyer/grantee.
A Document Showing that the Seller has Ttle to the Property
The following documents can function as evidence that the seller's title is legitimate: abstract of title; certificate of title and seller's affidavit of title; attorney's opinion letter; title guarantee; owner's fee policy of title insurance.
Payoff Statement
A statement from the seller's mortgage lender showing exactly how much is owed as of the date of closing.
Real Property Tax Receipt
A receipt or some other evidence that the local real estate property taxes have been paid up to a certain date.
Proof of Insurance
Documentation showing that the property is insured through closing.
Certificates of Compliance
Any documents pertaining to local realty inspections and codes. Also, any agreements that the purchaser has signed that states they will be responsible for any repairs to bring the property up to code.
Executed Easements
An easement is a right that property owner has to some use of the adjacent or adjoining property. The executed easements would be from neighboring real estate owners onto whose realty portions of the seller's property encroach. For example, a common driveway, overhanging eaves and gutters, etc.
Affidavit of Title
A document that is executed and sworn to by the seller that they have not done anything or know of anything that would affect the title.
Have a question you would like to see posted to this section?
Send your question to: Ask An Attorney c/o: info@h4sbon.com
The information provided in this article is intended for educational purposes only. This article should not be considered legal advice or as a substitute for legal advice. Laws vary by state and jurisdiction and upon case specifics.
Return to Resource Center
