{"id":4165,"date":"2023-04-12T09:02:24","date_gmt":"2023-04-12T09:02:24","guid":{"rendered":"https:\/\/peaktitlepro.com\/?page_id=4165"},"modified":"2023-04-19T05:34:00","modified_gmt":"2023-04-19T05:34:00","slug":"what-documents-will-be-signed-at-closing","status":"publish","type":"page","link":"https:\/\/peaktitlepro.com\/what-documents-will-be-signed-at-closing\/","title":{"rendered":"What Documents Will Be Signed at Closing?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"4165\" class=\"elementor elementor-4165\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-517bbed elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"517bbed\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;shape_divider_bottom&quot;:&quot;mountains&quot;}\">\n\t\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" data-negative=\"false\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" opacity=\"0.33\" d=\"M473,67.3c-203.9,88.3-263.1-34-320.3,0C66,119.1,0,59.7,0,59.7V0h1000v59.7 c0,0-62.1,26.1-94.9,29.3c-32.8,3.3-62.8-12.3-75.8-22.1C806,49.6,745.3,8.7,694.9,4.7S492.4,59,473,67.3z\"\/>\n\t<path class=\"elementor-shape-fill\" opacity=\"0.66\" d=\"M734,67.3c-45.5,0-77.2-23.2-129.1-39.1c-28.6-8.7-150.3-10.1-254,39.1 s-91.7-34.4-149.2,0C115.7,118.3,0,39.8,0,39.8V0h1000v36.5c0,0-28.2-18.5-92.1-18.5C810.2,18.1,775.7,67.3,734,67.3z\"\/>\n\t<path class=\"elementor-shape-fill\" d=\"M766.1,28.9c-200-57.5-266,65.5-395.1,19.5C242,1.8,242,5.4,184.8,20.6C128,35.8,132.3,44.9,89.9,52.5C28.6,63.7,0,0,0,0 h1000c0,0-9.9,40.9-83.6,48.1S829.6,47,766.1,28.9z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f395b2\" data-id=\"3f395b2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0d15ccc elementor-widget elementor-widget-heading\" data-id=\"0d15ccc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Closing<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-35550bf elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"35550bf\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5fefe40\" data-id=\"5fefe40\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-aabac92 elementor-widget elementor-widget-text-editor\" data-id=\"aabac92\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>By the time a transaction reaches its final closing day, a lot of items have been completed. By this stage, the title commitment\u2019s terms generally have been satisfied, settlement statements and closing disclosures have been distributed, and the parties know how the transaction is going to be financed.\u00a0<br \/>Depending on your market, closing documents may be signed on or shortly before your scheduled closing date. In this discussion, we will walk through a few of the common documents each party will execute in connection with their closing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-fc98c19 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"fc98c19\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b530575\" data-id=\"b530575\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2837cac subscription-form elementor-widget elementor-widget-toggle\" data-id=\"2837cac\" data-element_type=\"widget\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-4211\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-4211\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-angle-double-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-angle-double-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Subscribe to The Peak University Newsletter!<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-4211\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-4211\"><div class=\"tnp tnp-subscription \">\n<form method=\"post\" action=\"https:\/\/peaktitlepro.com\/wp-admin\/admin-ajax.php?action=tnp&amp;na=s\">\n<input type=\"hidden\" name=\"nlang\" value=\"\">\n<div class=\"tnp-field tnp-field-firstname\"><label for=\"tnp-1\">First Name<\/label>\n<input class=\"tnp-name\" type=\"text\" name=\"nn\" id=\"tnp-1\" value=\"\" placeholder=\"\" required><\/div>\n<div class=\"tnp-field tnp-field-surname\"><label for=\"tnp-2\">Last Name<\/label>\n<input class=\"tnp-surname\" type=\"text\" name=\"ns\" id=\"tnp-2\" value=\"\" placeholder=\"\"><\/div><div class=\"tnp-field tnp-field-email\"><label for=\"tnp-3\">Email<\/label>\n<input class=\"tnp-email\" type=\"email\" name=\"ne\" id=\"tnp-3\" value=\"\" placeholder=\"\" required><\/div>\n<div class=\"tnp-field tnp-field-profile\"><label for=\"tnp-4\">Company <\/label>\n<input class=\"tnp-profile tnp-profile-1\" id=\"tnp-profile_1\" type=\"text\" size=\"\" name=\"np1\" placeholder=\"\"><\/div>\n<div class=\"tnp-field tnp-privacy-field\"><label><input type=\"checkbox\" name=\"ny\" required class=\"tnp-privacy\"> By continuing, you accept the privacy policy<\/label><\/div><div class=\"tnp-field tnp-field-button\" style=\"text-align: left\"><input class=\"tnp-submit\" type=\"submit\" value=\"Subscribe\" style=\"\">\n<\/div>\n<\/form>\n<\/div>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8df17a3 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"8df17a3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7a2e189\" data-id=\"7a2e189\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f6b1ff0 elementor-widget elementor-widget-heading\" data-id=\"f6b1ff0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Buyer's Documents\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-33c14d1 elementor-widget elementor-widget-text-editor\" data-id=\"33c14d1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In most transactions, the buyer has the majority of the paperwork at closing. This is typically due to the fact that the buyer will be executing final financing documents. Here are a few common closing documents buyers should expect to sign:<br \/><b>Mortgage and Promissory note or Deed of Trust:<\/b>\u00a0<br \/>The final step in the financing process is to sign loan documents. These documents will take the form of a mortgage, promissory note, and\/or a deed of trust depending on your market and the lender\u2019s requirements.<br \/>The promissory note is the legal agreement to accept the loan. It details all the terms of the loan, with a specific focus on repayment terms.\u00a0<br \/>The mortgage or deed of trust is the security instrument that sets the property as collateral for the loan. This document is generally recorded in the public record and sets forth the terms under which your lender can foreclose on the property in the event of a payment default under the note.\u00a0\u00a0<br \/><b>Mortgage application:<\/b>\u00a0<br \/>An updated mortgage application may need to be signed at closing.<br \/><b>Closing Disclosure (CD):\u00a0<br \/><\/b>This is the document that contains all the fees and costs associated with the loan and is generally prepared by your lender.<br \/><b>Settlement statement:<\/b>\u00a0<br \/>For closing, the buyer\u2019s settlement statement will detail the financials of the transaction, including the purchase price paid, any prepaid items such as property taxes, homeowner\u2019s insurance, or homeowner\u2019s association fees, the buyer\u2019s portion of closing costs, title insurance premiums, or real estate commissions and any other expenses paid.<br \/><b>Certificate of occupancy:\u00a0<br \/><\/b>For newly constructed homes, this certifies that the home is safe and properly constructed. These certificates are provided by the local government after an inspection of the home and are generally required to be delivered into escrow before the transaction can close<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eea6534 elementor-widget elementor-widget-heading\" data-id=\"eea6534\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Seller's Documents\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5cf2726 elementor-widget elementor-widget-text-editor\" data-id=\"5cf2726\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In most closings, the seller has fewer documents to sign, but they are no less important to the closing. The seller is transferring ownership of the property at the closing, so understanding the documents that effectuate the transfer of title can be very helpful when entering the process.<br \/><b>Affidavit of title:<\/b>\u00a0<br \/>This is a document stating that the seller owns clear title to the property being sold and has not sold it to anyone else or agreed to any new or unrecorded encumbrances against the property.\u00a0<br \/><b>Deed:<\/b>\u00a0<br \/>The deed is the document transferring title to the property from the seller to the buyer.\u00a0<br \/><b>Tax declaration:<\/b>\u00a0<br \/>Depending on the state, you may be required to sign a document declaring the sales tax you owe on the purchase price.\u00a0<br \/><b>Settlement statements:\u00a0<br \/><\/b>For closing, the seller\u2019s settlement statement will detail the financials of the transaction, including the purchase price paid, and any amounts deducted therefrom for any payoffs to existing liens or mortgages, property taxes or other assessments owed by the seller(s), the seller\u2019s portion of any closing costs, title insurance premiums or real estate commissions and any other expenses paid out of the closing proceeds.<br \/><b>1099 form:<\/b>\u00a0<br \/>The seller will be required to sign a 1099 tax form or provide a 1099 certification of exemption.\u00a0<br \/><b>Certificate of Non-Foreign Status:\u00a0<br \/><\/b>This form is required by federal statute and indicates whether the seller is a U.S. citizen.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-beaa115 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"beaa115\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8e3f698\" data-id=\"8e3f698\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-68ee20a elementor-widget elementor-widget-text-editor\" data-id=\"68ee20a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The information provided in Peak Title Professionals, does not, and is not intended to, constitute legal advice. All content is for general informational purposes only and is not intended to provide a complete description of the subject matter. Specific processes will vary based on applicable law. The title and closing process will be handled by a third-party attorney to the extent required by law. Product offerings vary by jurisdiction and are not available or solicited in any state where we are not licensed.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b5cdf57 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"b5cdf57\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-13ce0fd\" data-id=\"13ce0fd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f3035ea elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"f3035ea\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-98e4f8f\" data-id=\"98e4f8f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bdebc1a elementor-widget elementor-widget-heading\" data-id=\"bdebc1a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Are you a multimillion dollar producer? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-afcaa51\" data-id=\"afcaa51\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b9a2855 elementor-button-align-start elementor-mobile-button-align-center elementor-widget elementor-widget-form\" data-id=\"b9a2855\" data-element_type=\"widget\" data-settings=\"{&quot;step_next_label&quot;:&quot;Next&quot;,&quot;step_previous_label&quot;:&quot;Previous&quot;,&quot;button_width&quot;:&quot;100&quot;,&quot;step_type&quot;:&quot;number_text&quot;,&quot;step_icon_shape&quot;:&quot;circle&quot;}\" data-widget_type=\"form.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<form class=\"elementor-form\" method=\"post\" name=\"New Form\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"4165\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"b9a2855\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"\" \/>\n\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-above\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-email elementor-field-group elementor-column elementor-field-group-email elementor-col-100 elementor-field-required elementor-mark-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-email\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tEmail\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"email\" name=\"form_fields[email]\" id=\"form-field-email\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\" \" required=\"required\" aria-required=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-group elementor-column elementor-field-type-submit elementor-col-100 e-form__buttons\">\n\t\t\t\t\t<button class=\"elementor-button elementor-size-sm\" type=\"submit\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Submit<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/button>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/form>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Closing By the time a transaction reaches its final closing day, a lot of items have been completed. By this stage, the title commitment\u2019s terms generally have been satisfied, settlement statements and closing disclosures have been distributed, and the parties know how the transaction is going to be financed.\u00a0Depending on your market, closing documents may be signed on or shortly before your scheduled closing date. In this discussion, we will walk through a few of the common documents each party will execute in connection with their closing. Subscribe to The Peak University Newsletter! Buyer&#8217;s Documents In most transactions, the buyer has the majority of the paperwork at closing. This is typically due to the fact that the buyer will be executing final financing documents. Here are a few common closing documents buyers should expect to sign:Mortgage and Promissory note or Deed of Trust:\u00a0The final step in the financing process is to sign loan documents. These documents will take the form of a mortgage, promissory note, and\/or a deed of trust depending on your market and the lender\u2019s requirements.The promissory note is the legal agreement to accept the loan. It details all the terms of the loan, with a specific focus on repayment terms.\u00a0The mortgage or deed of trust is the security instrument that sets the property as collateral for the loan. This document is generally recorded in the public record and sets forth the terms under which your lender can foreclose on the property in the event of a payment default under the note.\u00a0\u00a0Mortgage application:\u00a0An updated mortgage application may need to be signed at closing.Closing Disclosure (CD):\u00a0This is the document that contains all the fees and costs associated with the loan and is generally prepared by your lender.Settlement statement:\u00a0For closing, the buyer\u2019s settlement statement will detail the financials of the transaction, including the purchase price paid, any prepaid items such as property taxes, homeowner\u2019s insurance, or homeowner\u2019s association fees, the buyer\u2019s portion of closing costs, title insurance premiums, or real estate commissions and any other expenses paid.Certificate of occupancy:\u00a0For newly constructed homes, this certifies that the home is safe and properly constructed. These certificates are provided by the local government after an inspection of the home and are generally required to be delivered into escrow before the transaction can close Seller&#8217;s Documents In most closings, the seller has fewer documents to sign, but they are no less important to the closing. The seller is transferring ownership of the property at the closing, so understanding the documents that effectuate the transfer of title can be very helpful when entering the process.Affidavit of title:\u00a0This is a document stating that the seller owns clear title to the property being sold and has not sold it to anyone else or agreed to any new or unrecorded encumbrances against the property.\u00a0Deed:\u00a0The deed is the document transferring title to the property from the seller to the buyer.\u00a0Tax declaration:\u00a0Depending on the state, you may be required to sign a document declaring the sales tax you owe on the purchase price.\u00a0Settlement statements:\u00a0For closing, the seller\u2019s settlement statement will detail the financials of the transaction, including the purchase price paid, and any amounts deducted therefrom for any payoffs to existing liens or mortgages, property taxes or other assessments owed by the seller(s), the seller\u2019s portion of any closing costs, title insurance premiums or real estate commissions and any other expenses paid out of the closing proceeds.1099 form:\u00a0The seller will be required to sign a 1099 tax form or provide a 1099 certification of exemption.\u00a0Certificate of Non-Foreign Status:\u00a0This form is required by federal statute and indicates whether the seller is a U.S. citizen. The information provided in Peak Title Professionals, does not, and is not intended to, constitute legal advice. All content is for general informational purposes only and is not intended to provide a complete description of the subject matter. Specific processes will vary based on applicable law. The title and closing process will be handled by a third-party attorney to the extent required by law. Product offerings vary by jurisdiction and are not available or solicited in any state where we are not licensed. Are you a multimillion dollar producer?<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-4165","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/peaktitlepro.com\/wp-json\/wp\/v2\/pages\/4165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peaktitlepro.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/peaktitlepro.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/peaktitlepro.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/peaktitlepro.com\/wp-json\/wp\/v2\/comments?post=4165"}],"version-history":[{"count":13,"href":"https:\/\/peaktitlepro.com\/wp-json\/wp\/v2\/pages\/4165\/revisions"}],"predecessor-version":[{"id":5657,"href":"https:\/\/peaktitlepro.com\/wp-json\/wp\/v2\/pages\/4165\/revisions\/5657"}],"wp:attachment":[{"href":"https:\/\/peaktitlepro.com\/wp-json\/wp\/v2\/media?parent=4165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}