During the closing process, which of the following documents is most likely signed by the buyer?

Prepare for the North Carolina Mortgage Loan Originator Test with our comprehensive study resources including flashcards and multiple choice questions. Each question is accompanied by explanations to enhance understanding. Ace your exam with confidence!

The property deed is a legal document that officially transfers ownership of a property from the seller to the buyer during the closing process. The buyer must sign the deed to acknowledge their acceptance of ownership and to record that transfer with the relevant authorities. This document is crucial as it serves as the public record of the buyer's ownership and is pivotal in establishing their legal rights to the property.

The home inspection report and the listing agreement are important documents in the real estate transaction, but they do not typically require the buyer's signature during closing. The home inspection report is generally completed before closing, and its purpose is to inform the buyer about the property's condition. The listing agreement is a contract between the seller and the real estate agent, not involving the buyer directly during the closing phase. The loan application is also signed prior to closing as part of the mortgage process but is not specific to the finalization of ownership at closing.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy