A transaction in which real property is either sold and purchased or whereby an existing mortgage is refinanced.
A typical closing involves a meeting between a buyer and seller, and in most cases a lender, whereby transfer of ownership is accomplished, funds and deed are exchanged, and all loan documents, including the promissory note and mortgage, are signed.
An REO (“Real Estate Owned”) is a type of closing that takes place after a property has reverted back to the secured creditor and it is now being sold to a third party. Even if our office has not represented the lender in its foreclosure action, we are more than capable of handling the REO.
A refinance is a type of closing in which there is no seller. The existing owner of the property seeks to refinance the terms of his existing mortgage with the same or a different lender.
The Law Offices of Popkin & Rosaler, PA is a full service real estate firm. Our goal on every type of closing is to facilitate a smooth and timely transaction. We handle all types of residential real estate transactions. All REO closings are handled by directly by the firm.
All typical purchase and sale closings and refinances are referred to our title company, TitleWorks, Inc. (click here for more information).