Closing Day: The Final Steps to Homeownership

Closing day is when you sign all the necessary paperwork and receive the keys to your new home. Here’s what you need to know to make the closing process smooth and stress-free.

Closing Day Overview

On closing day, you’ll sign ownership and insurance paperwork, officially transferring the home to you. Typically, the escrow period, time between accepted offer and closing, takes about four weeks. During this time, your earnest money funds are held in escrow until the transaction is complete.

Closing Disclosure

If purchasing using a loan, lenders are required to provide you with a closing disclosure at least three days before closing. This document outlines your final loan terms and closing costs. Review it carefully to ensure there are no surprises at the closing table. If there are discrepancies, notify me, your lender, and title company immediately.

Final Walkthrough

Within 24 hours of closing, we will conduct a final walkthrough of the home to check its condition and ensure any agreed-upon repairs have been made. This inspection usually takes 15-30 minutes.

The Closing Table

At the closing table, you may encounter:

• Your Agent (me)
• The Seller (possibly)
• The Seller’s Agent (possibly)
• A Title Company Representative
• Your Loan Officer (possibly)

You’ll sign various documents, including the deed of trust, promissory note, and other important paperwork. The closing typically happens at the title company’s office.

Closing Costs

Closing costs can vary but generally amount to about 3% to 4% of the home’s sales price. Some of these costs may be shared with the seller.

What to Bring to Closing

Make sure to bring:

• Government-Issued Photo ID
• Homeowner’s Insurance Certificate (if paying cash)
• Funds for the Remaining Costs

Receive Your Keys

After all the paperwork is signed and processed, you’ll receive the keys to your new home. It’s time to celebrate your new status as a homeowner and get to know your new neighbors.

Conclusion

Closing day marks the culmination of your home-buying journey. By being prepared and understanding each step, you can ensure a smooth and successful closing. Your relationship with me does not end at the closing table. I want to be your resource for all things home. Need a plumber, an electrician, a fireplace tech or tips on home maintenance? I am here for you well after we leave the closing table.