Congrats!
You’ve secured the perfect buyer for your home and you’re already through that pesky inspection phase. PHEW!
But now you might be wondering, “how do I get paid?” And maybe even, “how do I pay you?”
…it’s awkward – we get it. So we won’t make you ask. We’ll just tell you 🙂
You will get paid on Closing Day!
In summary, Closing Day looks a little like this-
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Buyer and seller sign all closing documents at their respective title companies.
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Once paperwork is signed on all sides, buyer or buyer’s lender sends the buyer’s purchase funds to the buyer’s title company.
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Once verified, the buyer’s title company pays off any mortgages or outstanding bills on your home and then sends the remaining funds to the seller’s title company.
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Once the seller’s title company receives the funds, they pay your Realtor® and of course, YOU, the seller! Typically, this takes place at the end of closing day, but based on the timing of steps 1 through 4, it’s possible you may receive your funds until the next business day after Closing.