Elderly relative is selling house in New York. Anyone recently sold house or is familar with procedure...help me out a bit.
Here (Michigan) we use Title Insurance and close at the Title Insurance company with buyer's check being written to the Title Company and payments (taxes, broker, recording fee, seller amount) issued by the Title Company.
There, I've been told, it's all done at the attorney's office with checks being drafted from buying attorney's trust account to selling attorney's trust account, and then disbursed from selling attorney's trust account.
I'm not familar with this procedure, so if anyone's done it or is familiar with the procedure, just relate your experience if you would. Thanks.
Here (Michigan) we use Title Insurance and close at the Title Insurance company with buyer's check being written to the Title Company and payments (taxes, broker, recording fee, seller amount) issued by the Title Company.
There, I've been told, it's all done at the attorney's office with checks being drafted from buying attorney's trust account to selling attorney's trust account, and then disbursed from selling attorney's trust account.
I'm not familar with this procedure, so if anyone's done it or is familiar with the procedure, just relate your experience if you would. Thanks.