The Closing
Selling a Home

The Closing

When all of the terms of the contract have been fulfilled, including inspections, examinations and financing, the transaction can be closed.

At the closing, all necessary documents will be signed and exchanged and the seller will be paid. It is the buyer's responsibility to have the final amount of settlement funds available as reflected on the closing statement. Under Nebraska Statutes, real estate transactions must be closed using 'good funds.' Under these Statutes, 'good funds' include, but are not limited to, lawful money of the United States, cashiers checks, certified checks, bank money orders, etc. The closing procedure will be explained to you by the real estate company, the attorney or the title insurance company that closes the transaction.

One last thing you should be sure to check is that the deed to your newly acquired property is recorded, as soon as possible after closing, in the county where the real property is located so that you establish your interest in the property. This is the buyer's responsibility but this may be done by the licensee or the party closing the transaction. However, you should make sure it is done.