Residential Closings

Standard residential transactions begin after the seller accepts a purchase agreement on their real estate investment. Generally, this window opens 30-60 days before the closing date to ensure time to gather all legal documents, appraisal, inspections, and other important information regarding the sale of the property. During this time, our closing teams gather data from those involved in the transaction. This data includes lender information, marital status, property information, etc.

While collecting this data, we perform a full title search on the history of the property in the public record and our expert attorneys conduct a thorough evaluation of the pending transaction. This assessment ensures that potential problems with title can be resolved promptly. Title insurance policies are also drafted during this time to prepare for closing day. Before closing day arrives, the file is reviewed by an attorney and the lender and funding is approved.

The buyer, seller, both realtors, lending officer, and the title attorney are all present for closing day unless otherwise specified. Documents are fully detailed by the attorney for all parties involved to ensure accuracy and are officially implemented. Title for the property is transferred, and the keys are exchanged at the table. Funds are distributed, documents are recorded with the Clerk of Court, the title insurance policy is issued, and the closing process is complete!

After the closing, we can also assist you with other legal work to ensure that your investment is well taken care of. We handle second mortgages, refinancing, home equity loans, and other various legal services to homeowners and business professionals across Acadiana and South Louisiana. Let us know how else we can help you, even after you close!

FAQs

What is the closing process in real estate?

Most people think of closing as the day you’re invited to the attorney’s office to sign papers and get the keys, but that’s only a small part of the process! The closing process begins when the seller agrees to the terms of the purchase agreement, and the paperwork is sent to the title company of your choice. The title company will then begin to pull all the important information and documents together to make sure you get to the table.

 

The closing process usually takes about 30-60 days; however, some may extend longer due to issues discovered during the title search. Our team of legal professionals will dissect the title of the property, inspecting each aspect to ensure there aren’t any legal issues that could affect the transaction. If so, your title attorney will help to quickly clear these problems with the appropriate parties.

 

At Bradley Moreau Title, our title attorneys are registered agents of several different title insurance companies to consolidate the process even further. We are certified to provide both lenders and owners title insurance policies, which protect you, your lender, and your home from a legal challenge after closing. During the process, we will consult with you to see whether you’d like to purchase a title insurance policy. It is not required, but we strongly recommend you do so to avoid future headaches down the road.

 

Before closing day, your entire file is reviewed by the title attorney and other closing professionals to ensure that everything is correct, and funding is approved. Money is held in a neutral, third-party escrow account that your title attorney has established for you to make for a smoother closing day.

 

The seller, the buyer, their realtors, the lender, and the title attorney are all present for the final day of the closing process unless otherwise stipulated in the purchase agreement. Documents are reviewed for accuracy with both the buyer and seller and signatures are collected. Once the title insurance policy is formally issued, signatures are checked, and the bank/lender has reviewed and approved all documents, funds are distributed. The signed documents are filed and recorded with the Clerk of Court and the title is officially transferred from the buyer to the seller. You get the keys, and now you celebrate!

How long after closing on a house can you move in?

The purchase agreement will outline the details of the transaction, including when you can move in, but most people can load up the moving truck and get started immediately! Some situations will prevent the buyer from moving in right away, but these terms will have been discussed and agreed upon before closing.

Who pays for closing costs?

This depends on the purchase agreement, but most of the time the buyer is responsible for paying closing costs. There are some cases in which the seller will take on all or part of the closing costs, using this as an incentive to grab the interest of buyers. Buyers are free to try to negotiate closing costs with the seller as well.

Do you get keys at closing?

There are some exceptions, but the buyer will receive the keys on the day of closing in most standard transactions. Once the official documentation is dated and signed with your closing attorney, the home is officially yours! The seller can request more time in the purchase agreement, but the buyer must agree and be aware of these conditions before closing.

Lafayette Office

1318 Camellia Boulevard
Lafayette, LA 70508

Phone: 337-235-4660

Fax: 337-235-4647

 

Lake Charles Office

1490 Market Street Suite 2

Lake Charles, LA 70601

Phone: 337-990-4333

Fax: 337-513-4683