What happens at the closing table in a real estate transaction?

August 31, 2020

Importance of a Monmouth County Real Estate Attorney at the Closing Table

Prior to joining the firm, our partner Andrew T. Walsh served a Judicial Clerkship with the Honorable Eugene A. Iadanza of the Superior Court from 1996-1997 and served an internship for the Honorable Thomas F. Shebell, Jr. of the Appellate Division.

Today, at our firm, he practices in several law areas, including Personal Injury, Criminal Law, Workers’ Compensation, Real Estate, and Municipal Court. In the following video, Mr.Walsh explains the steps in the closing of the property.

At the closing table, after finally getting there, sometimes it is easier said than done. What typically happens is that I’m going to get the loan package from the bank, and I’m going to review that with the buyers. We are going to go over page by page, it requires a lot of signatures, and it is a lot of legal language that has to be explained to the buyers.

Financial Disclosures

One of the other important parts of the closing packages the financial disclosures goes by a lot of different names, closing disclosure, Hud closing statements that deals with all the numbers so that is a key component of the closing again to review that make sure everyone is on board and that has to be signed by all parties then the seller will transfer the documents to buyer´s attorney and once all the closing packages sign that gets send them back to the lender. The sale document gets set to the county clerk to be recorded, and that is everyone exchanges keys and checks, and that is the end of the closing.

Consult an Experienced Real Estate Law Firm in Monmouth County NJ

At Chamlin, Uliano & Walsh, our experienced team of attorneys supports sellers/buyers in Red Bank, Freehold, Long Branch, and Monmouth County in all Real Estate issues, including the home inspection process and the closing table.

For a comprehensive assessment of your purchase, please contact us online or through our West Long Branch office at 732-440-3950. We look forward to working for you through some of the largest financial transactions of your lives.



Categorised in: Real Estate Law