What Are Residential Closings?

A Florida real estate closing, in brief, is the conclusion of a real estate purchase/sale. The seller signs the conveyance deed and many other documents produced by your Florida title insurance company and by the lender. The buyer signs documents like mortgage notes, loan disclosures, and other documents as well. This is necessary for the seller to receive his/her money. The Contract for Sale and Purchase will determine who pays for the title fees, closing fees, and title insurance. Florida Title Company must closely examine the purchase/sale contract because the party who pays for the title fees, closing fees, and title insurance varies from county to county – and sometimes within the same county – in the state of Florida.

That does not mean, however, that all of the paperwork is done. Florida Title Company must record all of the necessary documents (deeds, mortgages, affidavits, releases, satisfactions, etc.) with the recorder’s office in the county where the property is located. When this has been accomplished, the recorded documents are delivered to the buyer along with the owner’s title insurance policy. If a Florida title mortgage loan is involved, the lender receives the Loan title insurance policy and a recorded copy of the mortgage, among other documents recorded along with the mortgage and the title transfer papers.