Before the House Settlement

• As the date of the house settlement approaches, the buyer and seller of the property tend to feel the crunch. The seller is busy vacating the property, or at the very least, preparing the property to turn over to the buyer. The buyer of the property is busy establishing homeowners insurance, making moving arrangements and dealing with the last-minute paperwork the mortgage lender needs to complete the transaction. In the last few days leading up to the closing, the buyers will also be responsible for finding out how much money they need to bring to settlement. Typically, the day before or the day of the settlement, the buyer will conduct a final walk-through to inspect the home and property to ensure everything is in the condition that was agreed upon.
  
  The seller must also ensure the removal of items, the clearing of furniture and the completion of any agreed-upon repairs before turning the property over to the buyer. This helps to reduce hassle for the buyer and seller during the settlement process---a delay in settlement can create additional costs.
  
  

During the House Settlement

• During the settlement, the settlement company, which can be a title company or a real estate attorney, will have the buyer and seller sign all of the necessary documents to turn the ownership of the property over from the seller to the buyer. The settlement company will also be responsible for registering the new deed or title with the county clerk's office in the county where the property is located. The settlement company also handles the payoff of any remaining loan and taxes due to ensure that the seller's obligations on the property are met before the buyer becomes the owner. During this process, the seller transfers the title to the buyer. The buyer then signs a mortgage note, if financing is being used to buy the property, to accept that the buyer will finance all or part of the purchase. Whether you're the buyer or the seller, be sure to review every document, term and condition before signing. Once all of the paperwork is signed and the keys are turned over to the buyer, the transaction is complete and the buyers can now do with the property what they wish.