Closing is the eagerly anticipated culmination of the real estate transaction. The parties convene at title company office to execute all required documents. The buyer and seller, if applicable, remit any remaining funds due, and settlement agent disburses funds as set out on the HUD-1 Settlement Statement. Following is a list of the documents that a seller will sign at a typical closing:

Closing Disclosure and/or HUD-1 Settlement Statement: sets out all receipts and disbursements made by, on behalf of, or to the buyer and seller in the transaction.
Acknowledgement: that the closing attorney/settlement agent represents the lender.
IRS form 1099: reports the sale to the IRS.
Deed conveying title to buyer; deed may take one of several forms:

  • Warranty Deed – warrants title against the claims of all persons;
  • Limited or Special Warranty Deed – warrants title against the claims of all person claiming loss as a result of seller’s ownership;
  • Quit-Claim Deed – contains no warranties as to title.

Affidavits: Where applicable, seller executes sworn statements relating to:

  • name variations or “aliases”
  • knowledge of matters relating to the title
  • other matters specific to the particular transaction
Equity Title Company in Virginia Beach


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This handy calculator provides an estimate of what settlement charges one can expect during the process. It’s convenient to be able to have an understanding of what expenses are figured into the closing process, and this calculation will help!


Use this sheet to calculate an estimate of the charges that are likely to be incurred in the sale of a residential property. All figures are estimates and should not be construed as a commitment. Rates are subject to change.