The Closing is the final transfer of the Colorado property from Seller to Buyer. This usually occurs at a Title Company with a “Closer” who has prepared all the documents for signing. Seller brings certified funds that pay for their Closing Costs and brings keys for Buyer. Seller’s Closing Costs include payment of Title Insurance for Buyer, half the cost of the Closing Fee paid to the title company for document preparation, prorated property taxes, and the Realtors’ Commission.
Buyer brings certified funds that pay for the Down Payment and Closing Costs plus the buyers Colorado mortgage lender will wire the appropriate funds needed to the title comapany. Buyer’s Closing Costs include half the cost of the Closing Fee, loan charges for appraisal, survey, loan origination fee and/or discount points and dollars required by lender to establish Buyer’s Escrow Account for 6 months of property taxes and insurance.
After all figures have been calculated and settled with all documents signed by both parties the official transfer of the Colorado Home takes place.
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