A Guide to Closing on Real Estate in New Hampshire

 


"Welcome to the Home Stretch: Your Closing Journey Begins"

Are you planning to buy or sell a home in the picturesque state of New Hampshire? Congratulations on taking this exciting step in your real estate journey! Whether you're a first-time homebuyer or a seasoned seller, navigating the closing process can seem daunting. However, with the right guidance, you can handle it with ease. This comprehensive guide will provide you with all the essential information you need to close on real estate in the Granite State successfully.

Selecting a Settlement Agent
Once you have your signed contract in hand, it's time to choose a settlement agent. In New Hampshire, this can be either a Title Company or an Attorney. Typically, the buyer is responsible for hiring the settlement agent.

Choosing the Right Title Company or Attorney
Selecting a reputable title company or attorney is crucial for a smooth closing. Here are some factors to consider:

  • Reputation: Choose a title company known for its professionalism, reliability, and customer satisfaction.
  • Experience: Ensure the title company has experience handling transactions similar to yours, particularly if you have specific needs or concerns.
  • Cost: Compare fees and services from various companies to ensure you receive a competitive rate without compromising on quality.

The Role of the Title Company
A title company is instrumental in the closing process, ensuring the property has a clear title and facilitating ownership transfer. Key responsibilities include:

  • Title Search: The title company performs a thorough search of public records to confirm the property's ownership history and identify any liens or issues.
  • Title Insurance: This protects both the buyer and the lender against unforeseen title problems that might surface after closing.
  • Facilitating Closing: The title company manages the closing process, ensuring that all documents are prepared, signed, and recorded correctly.

What Happens on the Day of Closing
Closing Day is the culmination of the home buying process where the property ownership transfers from the seller to the buyer. Here’s what typically occurs:

  1. Final Walkthrough: Conducted usually within 24 hours before closing, this allows the buyer to verify the property is in the agreed condition.
  2. Signing Documents: Both parties sign necessary documents, including the deed, loan agreements, and disclosures.
  3. Funds Transfer: The buyer provides payment through a cashier's check or wire transfer. The title company then disburses these funds to the seller and any involved service providers.
  4. Title Transfer: Following the signing and fund transfer, the title is officially transferred to the buyer.

Conclusion
Closing on real estate in New Hampshire can be a straightforward and rewarding experience with the right preparation and support. Whether you are purchasing your dream home or selling a property, understanding each step of the closing process is crucial. Remember, a reliable title company can be your greatest ally in ensuring a smooth and stress-free closing. Happy house hunting or selling!


(603)434-1414 | www.brokerstitlenh.com |info@brokerstitlenh.com

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