What will happen at "closing"?    

All closings will be handled by an insured Notary Public in the following manner:

1.  Closing Disclosure (CD) will be reviewed, explained and signed. 
2.  The Seller and Purchaser will sign an Act of Cash Sale transferring the property for cash.
3.  The purchaser will sign the Truth- in-Lending after explanation.
4.  The Purchaser will then sign a mortgage and note to the lender.
5.  Various affidavits required by the lender will be signed.
6. Checks will be received from the Purchaser and disbursed to the Seller and Realtors.

After the documents are signed, is the transaction "closed"? 

No, a function called Banking must be performed.

1. The notarial secretary will package the papers for recording at the Courthouse. Simultaneously, she will forward a package with copies of signed documents to the Lender for inspection.

2. Upon inspection and approval, the Lender will send the loan check or wire to SELA Title in exchange for the Mortgagee's Title Policy.

3. After recording, the new owners will then receive their papers with the instructions on how to file their homestead exemption. Their Owner's Title Policy if ordered will be sent at this time.

4. At this point, the file has been "BANKED" and the transaction is "CLOSED".