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Just like buyers, sellers can get cold feet. ... But unlike buyers, sellers can't back out and forfeit their earnest deposit money (usually 1-3 percent of the offer price). If you decide to cancel a deal when the home is already under contract, you can be either legally forced to close anyway or sued for financial damages.

Fortunately, in some states (such as New Jersey) home sellers aren't required to attend the home closing, as they typically sign their portion of the documents in advance. ... But in many states, it's typical for home buyers and sellers to meet face to face at the closing, which creates an ample opportunity for problems.

A driver's license or current passport will do. A membership card, not so much. Cashier's or certified check: This is to cover any down payment and closing costs you owe. Do not bring personal check or cash.

Depending on your state, you might not be required to attend the closing. Ask your real estate agent or attorney if your attendance is mandatory, or if you may sign the paperwork ahead of time. If so, your agent or attorney will provide it at the closing.

Reasons a seller might walk away from a real estate contract before closing. To put it simply, a seller can back out at any point if contingencies outlined in the home purchase agreement are not met.

Can a seller cancel a property deal? If a seller backs off from a property deal, the buyer can file a suit for specific performance in the courts of law.

Withdrawing before exchange of contractsIf you decide to withdraw or reject the offer before exchanging contracts, you could still have to pay certain charges. For instance, if you're the seller you need to check the terms of your agreement with your estate agent.

While a buyer's agent is not required to physically attend the closing, he or she will at the very least work with the buyer when signing all documentation. The buyer's agent will be able to answer any questions they have and any worries that may arise.

By law, three days prior to closing, the title company will send the Closing Disclosure to your clients. The Closing Disclosure is a plain-language document outlining financial obligations of the buyer. It includes actual closing costs, ongoing tax and insurance obligations, and a breakdown of your mortgage loan.

At a glance: During a real estate closing, the property title and ownership get transferred from the seller to the buyer. The home buyer will sign a variety of documents prepared by the escrow / closing agent, and will also pay whatever closing costs are due. ... This process is usually managed by an escrow agent.