Closing day is the finish line of your home purchase—but getting there involves a lot of details. Loan documents, closing funds, title work, insurance, the final walk-through, and plenty of signatures all have to come together at the right time. You can’t control every part of the process, but taking care of the things you can control ahead of time can make closing day a whole lot easier.
BEFORE CLOSING
Once your offer is accepted, there’s still plenty happening behind the scenes. I’ll help track the deadlines, contingencies, and other requirements under the purchase agreement and keep you informed as the transaction moves toward closing.
If you’re financing the purchase, stay in close contact with your lender and respond promptly to requests for updated documents or information. Even late in the process, the lender may need additional verification before giving final approval. It’s also a good idea to avoid making significant financial changes, taking on new debt, moving large amounts of money between accounts without documentation, or changing employment without first discussing how it could affect your loan with your lender.
For most purchase mortgages, you’ll receive a Closing Disclosure at least three business days before closing. Compare it with your most recent Loan Estimate and review the loan terms, monthly payment, closing costs, and the amount you’ll need to bring to closing. If something doesn’t look right or you don’t understand a charge or change, ask your lender or settlement professional about it before closing day.
You’ll also need to know exactly how and when your closing funds must be delivered. Your settlement or closing professional will provide those instructions. Give yourself enough time to complete the transfer according to their requirements rather than waiting until the last minute.
BE EXTRA CAREFUL WITH WIRING INSTRUCTIONS: Real estate transactions are a target for wire fraud, and a fraudulent email can look remarkably convincing. Before sending any money, independently verify the wiring instructions with your settlement or closing professional using a phone number you already know to be legitimate. Don’t rely on a phone number, link, or last-minute change sent in an email. If anything about the instructions changes or seems unusual, stop and verify it before sending funds.
Before closing, you’ll also have an opportunity to complete a final walk-through of the property according to the timing provided in your purchase agreement or local practice. This isn’t another home inspection. It’s your opportunity to confirm that the property’s condition is consistent with what you agreed to purchase, that negotiated repairs or other agreed-upon items have been addressed as required, and that the home is ready for closing under the terms of your agreement.
ON CLOSING DAY
Confirm the time, location, and anything you’re expected to bring before you leave for closing. Each person who will be signing should have the identification required by the closing professional.
There may be quite a few documents to review and sign, particularly if you’re financing the purchase. These can include your Closing Disclosure, promissory note, mortgage or deed of trust, and other loan and settlement documents. Don’t let the stack of paperwork make you feel rushed. Read what you’re signing and ask questions when something isn’t clear.
Much of the title work should already have been reviewed before closing so that questions involving ownership, liens, or other title matters can be addressed in advance. Depending on where you live, the closing may be handled by a title company, settlement agent, escrow professional, or attorney. Closing procedures vary, so rely on the professionals involved in your transaction for the requirements that apply to your purchase.
AFTER THE SIGNING
Signing the documents may feel like the big moment, but depending on local practice and the terms of your transaction, there may still be steps required before the purchase is officially complete and you’re entitled to possession. Funding, recording, delivery of documents, or other closing requirements may need to occur first. Your closing professional and I will help you know when everything is complete and when the keys are officially yours.
When possession is delivered, make sure you’ve received the keys and any other items that should come with the property, such as garage door openers, access devices, or information provided by the seller.
Remember to review the Ultimate Moving Guide, Checklist, and Supplies for important reminders as you prepare to move in!
I’ll be there to help you keep track of the real estate details, communicate with the other professionals involved, and work through questions that come up along the way. The lender, settlement professional, title company, attorney, and others involved each have their own responsibilities, but you shouldn’t feel like you have to figure out the process by yourself.
A smooth closing isn’t about hoping nothing goes wrong. It’s about handling the important details early so that when closing day arrives, you’re ready for the part you’ve been waiting for—getting the keys to your new home.