Closing is the final step in a lengthy process that finalizes a real estate sale. The time between signing a purchase and sale agreement and reaching the closing table can take a few weeks. For homebuyers, closing is the day they officially take ownership of the property and receive the keys. For sellers, closing is the day they’ll receive their proceeds from the sale.

On closing day, the buyer and seller sign all the paperwork that finalizes the deal and records it with the County. A title representative and the buyer/seller’s real estate agent are usually in attendance. While the closing is always handled by a single title company, for convenience and privacy, it is most common today for buyers and seller to close on the same day yet at different times and sometimes even at a different branch offices. At least a week before closing, buyer and seller should both have confirmed appointments of their closing time and locations so the title company and escrow officer can reserve the spots, plan ahead, and prepare all the paperwork. 

Paperwork to expect to sign

At closing, both the seller and the buyer will receive lots of important documents to sign including a bill of sale, deed, closing statement, and certificate of title. The seller may have an additional mortgage payoff agreement to sign. Buyers financing their home purchase will have significant lender paperwork to sign and should budget extra time. Those documents include a loan estimate, closing disclosure, initial escrow statement, mortgage note, mortgage deed of trust, and for new builds a certificate of occupancy.

What to bring with you

All parties involved in the transaction should be prepared to bring a photo ID and professional representation such as their agent or an attorney. Sellers should be prepared to produce documentation of any repairs that have been ordered following the inspection and have the keys to the property to hand over. Buyers will need to bring good funds to cover all closing costs and cash-to-close which are usually conveyed at closing by a cashier’s check or a wire.

Before heading over, buyers should always perform a “final walk-through”

Even if a home inspection went smoothly, it’s still a good idea for a buyer to do a final walk-through before heading to their closing appointment. It’s always possible that damage could have occurred since the last visit. During the walk-through, a buyer should make sure all necessary repairs were made, that all seller personal items have been removed, and that the home comports with the terms of the contract.

 

If a buyer cannot make a final walkthrough they are strongly advised to identify a family member or other official personal representative who can perform it for them before signing and finalizing the deal. While your real estate agent will be in attendance to assist and provide access, it is the buyer's individual responsibility and obligation to confirm the condition of the home before closing.