What Sellers Need to Know at Closing

Your job is to deliver clear, marketable title and the keys. The title company handles the payoff and paperwork.

The title company orders a written payoff statement from your lender good through a specific date. Interest accrues daily, so the figure changes if closing moves.

Any second mortgage or HELOC needs its own payoff and should be mentioned early.

Existing mortgage payoffs, real estate commissions, your share of prorated property taxes, any liens or judgments that must be cleared, transfer taxes or conveyance fees where applicable, and the title and escrow charges allocated to you by contract.

Your share is settled at the table rather than chased later. In Ohio, this is more involved than in most states.

The deed transferring ownership, an affidavit about liens and possession, the settlement statement, and any payoff or lien release paperwork.

Proceeds go out by wire or check after the file disburses, usually the same day for a morning closing. Ask your closer how and when.

An unreleased old mortgage still on record, a name that doesn't match between the deed and your ID, an unpermitted addition, unpaid HOA dues, an estate or divorce in the chain of title, and a second lien nobody mentioned.

Raise any of these early because most take days, not hours, to clear.