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The final stage of a home sale transaction is the time to tie up all the loose ends. The buyer and seller will sign the settlement sheet at the closing, detailing all of the charges that each party has incurred during the sale of the house. It is crucial to go over the sheet for accuracy and to make sure that you understand everything on it before you complete the transaction.

When a contract is negotiated, each side agrees how to divide the loan fees (or points), as well as the other closing charges, such as state or local taxes or escrow fees. Your real estate agent can go over the settlement sheet and help you compare it with your purchase agreement. The seller's charges usually include the brokerage fee, the mortgage payoff, and any charges involved in clearing the title, as well as pro-rated property taxes, payments for termite treatment and escrow for repairs that could not be completed by closing. The buyer's costs include charges for the loan and title searches, insurance and any other legal fees. A good closing officer will go over the settlement sheet line by line, explaining each item and correcting any misplaced charges.

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Joyce Barnwell
Intracoastal Realty
1206 N. Lake Park Blvd.
Carolina Beach, NC 28428
Tel: 910-617-7654
Fax: 910-458-7759
Email: joycebarnwell@NUMBER1EXPERT.com

Residing in the peaceful coastal community of Carolina Beach, I’m a licensed North Carolina Realtor with over 30 years real estate experience and 20 years owning my own real estate company, faithfully serving the unique real estate needs of buyers, sellers and investors. I specialize in the listing and selling of residential pre-existing homes, newly constructed homes, waterfront property, golf course property, investment property, condos and duplexes as well as lots for sale in and around North Carolina’s New Hanover County coastal communities of Wilmington, Carolina Beach, Kure Beach, Wrightsville Beach and Figure Eight. Thanks again for visiting my site and don’t hesitate to call me direct at 877-617-7654.