Closing on a home is the final step in the buying process—and one of the most important. If you’re wondering what to expect when closing on a home, here’s a simple guide to walk you through it.
Once your offer is accepted, the home goes under contract and an escrow account is opened. Your earnest money is deposited, and the process officially begins. From there, you’ll schedule a home inspection to check for repairs or issues. If anything major is found, you can negotiate repairs or credits with the seller.
At the same time, your lender will order an appraisal to ensure the home’s value supports the loan amount. If the appraisal comes in lower than expected, you may need to renegotiate or bring extra cash to the table.
Your lender will also finalize your mortgage during the underwriting phase. You’ll submit financial documents like tax returns, pay stubs, and bank statements. Once approved, you’ll receive a Closing Disclosure showing your loan terms and estimated closing costs—usually 2–5% of the home’s price.
A title company will run a title search to confirm legal ownership and check for any liens. You’ll also purchase title insurance to protect your investment.
Before closing, you’ll do a final walkthrough to ensure everything is in order. On closing day, you’ll sign all necessary documents, transfer funds, and officially become the homeowner.
Understanding what to expect when closing on a home helps make the process smoother and less stressful. With a good real estate agent and lender by your side, you’ll be holding the keys before you know it and will be enjoying your new home soon!
If you’re ready to start this process or have more questions, call or text me!
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