STEP SEVEN - The Closing


Happy homebuyers at the closing
The closing is where the buyer and seller sign all the papers that ensure that you legally and officially own the house. This is a very, very exciting thing.

A land trust closing is similar to other closings in many respects. The main difference is that, in addition to all the loan documents and deeds, a land trust closing involves signing a document called the ground lease. The ground lease is a 30-plus page document which spells out the terms of the lease between you and the land trust.

Links