Author

Shelly Salas

Buying or selling a home is an exciting journey, but as you approach the closing, it’s natural to feel a bit uncertain about what comes next. The real estate closing is the final step in your transaction, and understanding what to expect during this crucial moment can help ease any stress. Here’s what happens before and during the closing process.

Once your offer has been accepted and you’re under contract, the real work begins. Your real estate agent, along with the title company, lender, and other professionals, will start preparing for closing. Several key steps take place during this period. The title company receives and processes all necessary documents to facilitate the transfer of ownership and prepares the settlement statement, outlining all fees and financial details related to the transaction. If you’re financing the purchase, your lender will order an appraisal to confirm the home’s value, and any required inspections or repairs must be completed before closing. A final walkthrough is typically scheduled within 24 hours before closing to ensure that agreed-upon repairs have been made and that the home is in the expected condition. If you’re the buyer, you’ll need to bring funds to the table, usually in the form of a wire transfer or cashier’s check, with the exact amount provided by your agent or title company.

On closing day, you’ll sign all final documents, and ownership will officially transfer from the seller to the buyer. The process starts with signing documents, which buyers and sellers typically do separately. If you’re financing, expect to sign a sizable stack of paperwork, including loan agreements and title transfer documents. Bring a valid, government-issued ID, and if you’re using a power of attorney (POA) for the transaction, you must present the original document. If you’re bringing funds, the title company must confirm receipt before closing is complete. If you’re taking out a mortgage, your lender will review the signed documents before giving the green light for funding. Once the lender confirms all requirements are met, they’ll release the funds, and the transaction will be complete. After funding is confirmed, the title company or your real estate agent will give you the keys to your new home. As the seller, you’ll receive your proceeds from the sale at this point.

Closing day marks the end of your real estate journey, whether you’re buying or selling. While it can be an overwhelming process, being well-prepared and working with experienced professionals will help ensure a seamless transaction. Every real estate deal is unique, so staying in close communication with your agent and title company will help navigate any last-minute surprises.