Finally, you’re ready to officially transfer ownership to the buyer. Settlement day will be a series of signing papers and reviewing documents. But you’ll have your broker to assist you, as well as an attorney or representative from the title company. With all deficiencies and contingencies resolved, the buyer will read and sign the deed of trust, deed of trust note, and settlement and financing papers. You’ll then sign the deed and settlement sheets and pay the appropriate closing costs.

Settlement costs may seem confusing, but the broker and title company representative should make it as simple as possible for you. You should understand what you’re paying. A general list of closing costs may include: attorney’s fees, inspection fee, appraisal, broker’s commission, title transfer and recording costs, homeowners association packet fees, utility escrow prorated to settlement date, any loan discount points, and any penalty on your mortgage payoff. You’ll be reimbursed after closing for any money you’ve paid in advance for bills not yet due, such as property tax.

Lastly, you’ll transfer the house keys to the new owner. Once the title company representative disburses funds to you and the brokers, the lender and title company will review the papers and approve the sale.

Congratulations! You’ve sold your home!