• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Accessibility Statement

Follow Us on FacebookFollow Us on TwitterFollow Us on InstagramFollow Us on YouTubeRSS Feed

Kimberly Howell Properties

San Antonio Real Estate

office@kimberlyhowell.com
(210) 493-6888
  • Blog
  • About Us
  • Agents
  • Buyers
    • Neighborhoods
    • Relocation Information
  • Sellers
  • Listings
    • Available Rentals
    • Homes for Sale
    • McNair Custom Homes
    • Open Houses
  • Contact
  • Rental SearchHomes for Rent
  • REALTORS®Find an Agent
  • McNair Custom HomesNew Construction
  • Property SearchHomes for Sale
You are here: Home / Real Estate / 10 Things to Know About Closings

10 Things to Know About Closings

September 26, 2012 by khproperties Leave a Comment

Closing Time

Real Estate Closings and You

After all that time waiting, you get the call…it’s closing time! Closing is the time to sign all of those final documents and move all the money around to finalize the sale of a rental or residential mountain property. Closing seems as if it’s a million miles away from the day you made/accepted the offer on your house, but once it arrives, the excitement once again builds. Sitting at the closing table, pen in hand, you start signing off on all that paperwork – you’re almost across the finish line. Here are a few things about closing a real estate transaction in Texas that we wanted to share with you that you may or may not know.

  • The date in the contract is an “on or before” date. This means that if all parties agree to close a day early, they can. A week early? Still a yes. A whole month? Absolutely!
  • Closings most commonly occur at a title company.
  • Buyer and seller do not close at the same time. There is no requirement that one party close before another.
  • Photo ID is required. Signatures will be notarized and the escrow agent will want to make sure you are who you say you are.
  • Power of Attorney can be used, but generally the original POA document is required. A call will be made to the person granting the POA just to make sure they are 1) alive and 2) not revoking the POA.
  • Monies for closing are required to be in certified funds – cashier’s checks or wires. Don’t bring a suitcase full of cash (although it might be impressive) or a personal checkbook.
  • Don’t expect the keys right away. Unless otherwise specified in a temporary lease agreement, possession transfers at closing and funding. This means that the closing office has to make sure that all funds for the deal have been received. If the buyer is securing a mortgage, it could take a few hours…and sometimes a few days.
  • Taxes will be pro-rated based on the previous year’s assessed value. This can change each year, most noticeably with new construction (where the previous year’s tax value is based on just the land, not land and a house).
  • Average closing time for a seller is thirty minutes or less. There’s a lot less paperwork involved in selling than in buying.
  • Average closing time for a buyer is about an hour. The biggest factors in this much lengthier process are the complexity of the transaction, the experience of buyer, what documents the lender requires (some require more than others), and knowing what to expect, what to bring, and what information the buyers will be signing.

image courtesy of gill.holgate

Related Posts

  • Don’t Panic – Real Estate Lesson #1Don’t Panic – Real Estate Lesson #1
  • Don’t let HGTV guide all of your decisions.Don’t let HGTV guide all of your decisions.
  • How to be a good home buyer or seller.How to be a good home buyer or seller.
  • Why Good Real Estate Photos MatterWhy Good Real Estate Photos Matter
  • Nine Mistakes To Avoid With A New KitchenNine Mistakes To Avoid With A New Kitchen

Filed Under: Real Estate Tagged With: real estate, advice, closing, title companies

Quick Search

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Why It Makes Sense to Move Before Spring

Why It Makes Sense To Move Before Spring

Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in … [Read More...] about Why It Makes Sense To Move Before Spring

Home Values

Have Home Values Hit Bottom?

Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and … [Read More...] about Have Home Values Hit Bottom?

Home Equity

3 Ways You Can Use Your Home Equity

If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you … [Read More...] about 3 Ways You Can Use Your Home Equity

Best Practices for Selling Your House

3 Best Practices for Selling Your House This Year

A new year brings with it the opportunity for new experiences. If that resonates with you because you’re considering making a move, you’re likely juggling a mix of excitement over your next home and a sense of … [Read More...] about 3 Best Practices for Selling Your House This Year

Median Asking Rent

Avoid The Rental Trap This Year

If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it … [Read More...] about Avoid The Rental Trap This Year

Search Our Site

Real Estate Topics

  • Buying a Home
  • Homeowner Tips
  • KHP News
  • Local Events
  • Local Laws
  • Miscellaneous
  • Mortgages and Financing
  • Open Houses
  • Real Estate
  • Real Estate Market
  • Renters and Landlords
  • San Antonio Places
  • Sell Your Home
  • Technology
Our real estate agents can help you with properties anywhere in Texas. If you need assistance finding agents in other parts of the country, please contact us.

Search Homes

Explore Cities

  • Alamo Heights 34 Listings
  • Bandera 416 Listings
  • Blanco 194 Listings
  • Boerne 770 Listings
  • Bulverde 451 Listings
  • Canyon Lake 526 Listings
  • Castle Hills 20 Listings
  • Castroville 108 Listings
  • Cibolo 365 Listings
  • Comfort 64 Listings
  • Converse 690 Listings
  • Fair Oaks Ranch 64 Listings
  • Floresville 271 Listings
  • Garden Ridge 6 Listings
  • Helotes 159 Listings
  • Hill Country Village 4 Listings
  • La Vernia 182 Listings
  • Lakehills 146 Listings
  • Leon Valley 10 Listings
  • Live Oak 78 Listings
  • Mico 127 Listings
  • New Braunfels 1487 Listings
  • Olmos Park 8 Listings
  • San Antonio 11052 Listings
  • Schertz 302 Listings
  • Seguin 698 Listings
  • Selma 73 Listings
  • Shavano Park 26 Listings
  • Spring Branch 458 Listings
  • Terrell Hills 28 Listings
  • Universal City 98 Listings
  • Windcrest 25 Listings
  • Hollywood Pk 4 Listings

Stay up to date with the latest from Kimberly Howell Properties.

San Antonio real estate and property information provided by Kimberly Howell Properties. Kimberly Howell Properties does not assume any liability or responsibility for the operation or content of any of the linked resources, nor for any of the interpretations, comments, graphics, or opinions contained therein. All information deemed reliable, but not guaranteed.

KJH Properties, Inc. is a licensed real estate brokerage in the State of Texas, Equal Opportunity Employer, and supporter of the Fair Housing Act.

TREC Information About Brokerage Services | TREC Consumer Protection Notice | Privacy Policy

All content © 2009-2023 Kimberly Howell Properties, unless otherwise noted.