The legal documents that will be passed on the day of the closing will include the Settlement Statement, title insurance, warranty deed, the mortgage, and the note.
It is the buyer's responsibility that there are no problems with getting these particular items. Your attorney and Todd Sandler Realtors agent should help in this process so there are no surprises at the closing.
The Settlement Statement is a Housing and Urban Development form that, under the Real Estate Settlement Act (RESPA), the lending institution is required to provide to the buyer. This statement breaks out the buyer's expenses and credits.
Title Insurance is a contract between the buyer/lending institution and a title insurance company. The contract protects against defects in the title. A Warranty Deed guarantees that the title being passed is good.
The Mortgage is a document given by the buyer that is security for the loan.
The Promissory Note is written assurance that the buyer will pay a specified amount of money to someone.
The buyer's attorney and financial institution may have other documents that need to be dealt with as well. These documents will vary depending on the situation of the sale. The above-mentioned, however, are standard documents that will need to be prepared for the closing of the purchase.
A Todd Sandler Realtors agent can help you to better understand these documents and the processes involved in the closing process.