Settlement vs. Closing in Cary NC Real Estate
Folks buying or selling a home in Cary need to plan well for activities around Settlement and Closing. And they should be able to expect some guidance from their Listing Agent and Buyers Agent.
And, many home buyers in Cary do not know the difference between Settlement and Closing in a North Carolina Real Estate transaction. When using the NC Association of REALTORS® Standard Offer to Purchase and Contract, the two terms have significantly different meanings. "Settlement" is the signing of documents related to conveyance of the property. "Closing" is when the Closing Attorney actually records the Deed at the Wake County Courthouse. Buyers are still Buyers until the Deed is recorded. After Recording, i.e., "Closing," Buyers become "Owners."