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Step 5: Closing on Your Home Sale Pennsylvania

The following real estate tips contain all the information you need to know about closing on your home sale. Read on for simple yet effective selling ideas for yourPennsylvania home.

Local Companies

Eastern Savings Bank FSB
412- 788-1600
2000 Cliff Mine Rd (Park West Two Ste 400)
Pittsburgh, PA

Affordable Mortgage Advisors LLC
412- 561-3000
1910 Cochran RD Manor Oak 2
Pittsburgh, PA

Century 21 Select Group (Brian Mccardle)
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Rt. 115, Po Box 200
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(570) 722-0885
Po Box 1527
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Pennsylvania State Employees Credit Union
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Harrisburg, PA

Anthony Schimmel, Associate Broker/Owner - Keller Williams Real Estate
(610) 395-9123
2901 Emerick Boulevard, Suite 100
Bethlehem, PA

Long & Foster Real Estate - Mary Lynn Bonsall
(877) 247-8080
3101 Emrick Boulevard
Bethlehem, PA

The Wagner Group - Keller Williams Real Estate
(212) 380-7448
2901 Emerick Boulevard, Suite 100
Bethlehem, PA

Grace Realty Co, Inc.
(610) 837-4131
LVIP IV, Suite B
Bethlehem, PA

Re/Max Classic Group - Alice Marques, Realtor
(610) 262-4566
2416 Emrick Boulevard
Bethlehem, PA

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Prior to most home closings, there are contingencies that must be met and paperwork that has to be taken care of.

Contingencies

A contingency allows the buyer to back out of a contract if certain conditions are not met within a certain period of time. Some of the most common contingencies include the following:

Inspection – Almost all home contracts have a contingency requiring the home to satisfactorily pass inspections. The buyer pays an inspector to examine the home and find any potential problems. The buyer and seller then agree on what has to be fixed and when. This must be done prior to closing.

Financing – Usually, home sale contracts also have a contingency involving financing. The buyer must be able to get the mortgage specified in the contract. If this cannot happen, the contract is void.

Appraisal – Many buyers make a contingency that the home must appraise for at least the selling price. Since the financing is dependent on this, it is important. Either the buyer or your REALTOR® will arrange for the appraisal.

Once all the contingencies are met, the sale can go forward. Your REALTOR® will draw up all the closing documentation, including the settlement statement or HUD-1. This lists out all the costs of the sale to the buyer and the seller. Read over the settlement statement carefully to make sure everything in the contract is indeed reflected in the actual sale. If the document is correct, all that’s left is to sign the paperwork and hand over the keys to the new owner.

Published on January 15, 2007

Read full article at realestate.com

Featured Local Company

Eastern Savings Bank FSB

412- 788-1600
2000 Cliff Mine Rd (Park West Two Ste 400)
Pittsburgh, PA

Read more about Step 5: Closing on Your Home Sale

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Regional Articles

- In today's market, home buyers can negotiate winning deals Pennsylvania

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- Step 10: Closing Pennsylvania
- How to Sell a Home Without a Real Estate Agent Pennsylvania
- Step 4: Reviewing and Negotiating Home Sale Offers Pennsylvania
- How to Resolve Disputes with Your Home Builder Pennsylvania
- Buying your first home Pennsylvania
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- For Sale By Owner Pennsylvania
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Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History