STEP 8: THE CLOSINGThe closing is where the buyer and seller sign all the papers that ensure that you legally own the house. This is a very, very exciting event!
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.
A representative from Cape Fear Housing Land Trust will accompany you and your attorney to your closing and we will work together to make this important day as seamless as possible.