Closing

Edina Realty Title has 40 closing centers in Minneapolis & St Paul Metro area. Even if you're out of the area on closing day, they can still make arrangements to have a title professional meet you to sign the papers. 

What you need

You'll review your closing statement (often referred to as the HUD-1 Settlement Statement) with your agent or mortgage representative prior to closing to ensure all the credits and debits are in order. Tax prorations, association fees, commissions, outstanding utility bills, seller paid buyer costs, etc; it will all be there. The bottom line will show how much money you need to bring to closing in the form of a cashier's check, usually payable to the title company (or to yourself - consult the title company to verify). Or if you're receiving money at closing, you'll know in advance how much it will be. Whether you're paying or receiving money at closing, the amount should line up closely with the Seller Estimated Net Sheet or the Good Faith Estimate provided to you early on in the transaction, either from your agent or from your mortgage company. Make sure you bring your state issued photo ID to closing also and any other documentation required by the title company.

Please allow an hour for the closing process. You'll sign papers and receive copies of the documents to take with you. As a buyer you usually walk out of closing with keys to your new house, if the purchase agreement so states. Or, as a seller, you should walk out of closing with your proceeds check, if the buyer's funds have been fully processed by the title company. Be sure to ask in advance so you'll be prepared.